If an economy has a money supply of $200, a velocity of 12, and a price level of $2, the output level must be:
A. 6,000 units.
B. 1,200 units.
C. 600 units.
D. 2,400 units.
Answer: B
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If the net public debt expanded last year, then which of the following most likely occurred during the year?
A) The government's budget was balanced. B) The government's tax collections exceeded its spending. C) The government experienced a budget surplus. D) The government experienced a budget deficit.
The United States
A) has never had a significant problem with corruption. B) currently is one of the most corrupt countries. C) currently ranks among the least corrupt countries. D) had a significant problem with corruption in the 1930s.
Explain why charitable giving is Pareto superior move. Is there an economic explanation of why the supply of charity might be sub-optimal? Explain
What will be an ideal response?
In the early 1990s, before pay at the pump was an option, a gas station decides to force people to pre-pay due to drive-offs. The opportunity cost of this decision may include:
A. the value of the gas that is no longer stolen by people who drove off. B. not having to look outside for people waving at you to turn on the pump. C. lost revenue when people under estimate what they think their gas tanks will hold in order to avoid going back into the store to get change from overpayment. D. a loss of snack sales because people decide to come into the store to pay for gas before pumping versus after pumping their gas.