Whatever functions as money must be _____
a. authorized by the government
b. accepted as deposit by banks
c. backed by precious metals like gold or silver
d. completely indestructible
e. limited in supply
e
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The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. Based on the data in the table, production of fertilizer has
A) external benefits. B) external costs. C) no externalities. D) constant returns to scale.
Which of the following is false? a. The unemployment rate is the number of people officially unemployed divided by the civilian labor force. b. The labor force includes those people over the age of 14 who are either employed or unemployed
c. Discouraged workers, who have not actively sought work for four weeks are not counted as unemployed; instead they fall out of the labor force. d. Some people working overtime or extra jobs might be considered to be overemployed.
Which of the following is not a type of an organization?
A. Trade-off free bundled mixed design B. The Uform C. The Mform D. Mixed design
If output falls 1.0 percentage point below its potential, the Taylor rule predicts that the Fed should:
A. reduce the federal funds rate by 0.5 percentage points. B. raise the federal funds rate by 1.0 percentage points. C. raise the federal funds rate by 1.5 percentage points. D. reduce the federal funds rate by 1.0 percentage points.