Economics
a. studies human behavior when scarcity exists and choices must be made
b. provides the only reasonable explanation of how people make decisions
c. can accurately explain all human behavior since it is based on the assumption of rationality
d. is better at showing the way things ought to be than the other social sciences are
e. is the only social science that can explain the existence and behavior of public institutions
A
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The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound once international trade occurs, the total imports of cherries to the United States from other nations equals
A) 200,000 pounds. B) 400,000 pounds. C) 600,000 pounds. D) 800,000 pounds. E) 0 pounds.
Expansionary monetary policy:
A. raises interest rates, raising both investment and net exports. B. lowers interest rates, increasing investment and decreasing net exports. C. lowers interest rates, increasing both investment and net exports. D. raises interest rates, decreasing both investment and net exports.
The equation of exchange is?
a. M x V = P x Y b. M x P = V x Y c. M x Y = V x P d. none of the above represent the equation of exchange
If a person does not have to pay more than $3,000 in a year for health-care expenses, this is called their
A. co-payment. B. lifetime maximum. C. maximum out-of-pocket. D. deductible.