Mercantilists believed that national military power could be achieved best by _______
a. confiscating church lands and selling them to private businesses.
b. freeing business from government regulation.
c. having the government supply the infrastructure for the economy, while leaving private enterprise alone in other spheres.
d. strictly regulating economic life.
d. strictly regulating economic life.
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Government expenditures on goods and services include
i. the New York City Library's purchase of new books. ii. Washington D.C.'s purchase of gas for its city buses. iii. California's payment of wages to prison guards. A) i and ii B) i and iii C) i, ii and iii D) i only E) ii and iii
A depository institution is a firm that takes deposits from ________ and makes loans to ________
A) households and firms; other households and firms B) firms only; households only C) households only; firms only D) firms only; other firms only
We expect the price elasticity of supply to be
A) negative. B) positive. C) between -1 and +1. D) zero.
Refer to the graph. If the supply of money was $200 billion, the interest rate would be:
A. 1 percent
B. 2 percent
C. 3 percent
D. 4 percent