Robert Mugabe is:
A. the president of Zimbabwe.
B. the economist who invented inflation.
C. the head of the World Bank.
D. the chairperson of the Federal Reserve.
Answer: A. the president of Zimbabwe.
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A professional tennis player enters fewer tournaments each year as the prize money she won increased. This observation indicates that the tennis player
A) is irrational. B) has shifted her labor demand curve leftward. C) has shifted her labor supply curve rightward. D) has a backward bending labor supply curve.
The quantity of money supplied is determined primarily by ________
a. the Congress and the President b. public sector banks c. the Federal Reserve d. the commercial banks
If an economy is $100 billion below potential, the tax rate is 20 percent, and the deficit is $180 billion, the structural deficit is:
A. $200 billion. B. $20 billion. C. $180 billion. D. $160 billion.
Which of the following are reasons to consider the protective role of the state in an economic framework?
a. The protection of rights is necessary for a functioning economy. b. The protection of rights comprises a large portion of the government spending. c. The protection of rights is necessary for international trade. d. Both a and b. d. Both a and c.