Complete crowding out occurs when an increase in government spending is completely offset by an equal increase in tax revenues
Indicate whether the statement is true or false
False
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How many Federal Reserve Banks are there?
A) 7 B) 12 C) 15 D) 5500 (approximately)
Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at $0.20 per pound when 500 pounds are grown. The demand for potatoes is Q = 10,000/p
If the long-run supply curve is horizontal, then how much will consumers spend, in total, on potatoes? A) $0 B) $500 C) $10,000 D) $50,000
If there is an increase in the demand for U.S. automobiles, the
A) demand for dollars will fall. B) demand for dollars will rise. C) supply of dollars will fall. D) supply of dollars will rise.
In the last 250 years the U.S. economy has succeeded in
A) relaxing the grip of scarcity and improving the quality of life. B) eradicating poverty. C) reducing the number of government regulations imposed on households and businesses. D) eliminating scarcity.