Which of the following would have the impact shown in the accompanying graph?
A. Precommitment policy
B. Operation twist
C. Quantitative easing
D. Money easing
Answer: C
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The reason the production possibilities curve is bowed outward (concave) is
A) the law of increasing additional cost. B) that technology is constantly changing. C) that the number of resources is increasing. D) that the economy has more capital goods than entrepreneurial effort.
Commercial banks act as middlemen between savers and borrowers, therefore they are called _____
a. lenders of the last resort b. financial intermediaries c. banker's banks d. thrift institutions e. profitable institutions
Economic rent refers to profit derived from owning real estate.
Answer the following statement true (T) or false (F)
If the money supply in an economy is $300, the price level is $4, and real GDP is $1,500, what is the nominal value of output?
What will be an ideal response?