Benjamin works as an economist for the federal government. Which of the following questions is he trying to answer as part of his job?
a. How can I communicate more effectively?
b. What is the difference between artificial intelligence and emotional intelligence?
c. How can government officials get themselves re-elected to office?
d. What is the correlation between race and class?
e. How do people use limited resources to try to satisfy unlimited wants?
e. How do people use limited resources to try to satisfy unlimited wants?
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Policies taken to move the economy closer to potential output
A) must necessarily be contractionary policies. B) are lagging policies or automatic policies. C) are called stabilization policies. D) must necessarily be expansionary policies.
Total surplus:
A. can never be zero.
B. can never fall below zero.
C. is always above zero.
D. is less than the consumer surplus.
Now, about ____ percent of American married-couple families have two or more wage earners
a. 35 b. 50 c. 60 d. 90
The figure below shows the foreign exchange market. D£ is the nonofficial demand curve for pounds. S£ (Spring-summer) and S£ (Autumn-winter) are the nonofficial supply curves of pounds during the spring-summer and autumn-winter seasons, respectively. Assume that the British government is committed to maintaining a fixed exchange rate at $1.90 per pound. In the Autumn-winter period, what type of intervention must British monetary authorities engage in?
A. Buy 20 billion pounds at $1.90 B. Sell 60 billion pounds at $1.60 C. Sell 20 billion pounds at $1.90 D. Buy 10 billion pounds at $1.60