The money supply changes due to:
a. Rising velocity.
b. Rising oil and other natural resource prices.
c. Rising GDP.
d. Rising money multiplier.
e. A depreciating currency.
.D
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In deciding which programs the government should fund with tax revenues there is:
A. perfect consensus before a program is funded. B. often widespread disagreement. C. always a popular vote for new programs. D. the ability of each individual to decide where his tax dollars are spent.
Imagine Tom's annual salary as an assistant store manager is $30,000, he owns a building that rents for $10,000 yearly, and his financial assets generate $1,000 per year in interest. One day, after deciding to be his own boss, he quits his job, evicts his tenants, and uses his financial assets to establish a bicycle repair shop. To run the business, he outlays $15,000 in cash to cover all the costs involved with running the business, and earns revenues of $50,000. What are Tom's accounting profits?
A. $50,000 B. -$6,000 C. $24,000 D. $35,000
Unless there are barriers to prevent free international trade, a country becomes an importer when the world price exceeds the domestic price. In contrast, a country becomes an exporter when the world price is less than the domestic price
Indicate whether the statement is true or false
Contrast positive and normative economics. How can economists carry out normative analysis?
What will be an ideal response?