Economics is the study of how people make
A) subjective judgments.
B) themselves worse off.
C) money.
D) choices.
D
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Thrift institutions importance as a source of funds for borrowers
A) has shrunk from around 40 percent of total credit advanced in the late 1970s to below 30 percent by 2014. B) has shrunk from over 20 percent of total credit advanced in the late 1970s to around 3 percent by 2014. C) has expanded dramatically, from around 15 percent of total credit advanced in the late 1970s to above 25 percent by 2014. D) has expanded dramatically, from around 15 percent of total credit advanced in the late 1970s to above 30 percent by 2014.
When government intervenes in the production process because external benefits exist, it typically attempts
A) to impose a tax on each unit produced. B) to shift the industry's demand curve to the left. C) to shift the industry's demand curve to the right. D) to shift the industry's supply curve to the left.
All of the following are sources of the impact lag except
A) it takes some time for the deposit multiplier process to work itself out. B) firms need some time to respond to the monetary policy with respect to their investment plans. C) it takes time for the Fed to formulate a policy that best addresses a problem in the economy. D) a monetary change is likely to affect the exchange rate, but that translates into a change in net exports only after some delay.
If an increase in income leads to a decrease in the demand for salami, then salami is
A) an inferior good. B) a neutral good. C) a necessity. D) a normal good.