Basic economics indicates that the cornerstones of economic progress are
A) free elections, the right to bear arms, a written constitution, and a powerful head of state.
B) private ownership, freedom of exchange, competitive markets, and monetary stability.
C) representative democracy, a powerful chief executive office, protection of domestic business, and government regulation.
D) centralized government, free elections, majority rule, and two legislative branches.
B) private ownership, freedom of exchange, competitive markets, and monetary stability.
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Everything else held constant, an autonomous monetary policy tightening ________ aggregate ________
A) increases; demand B) decreases; demand C) decreases; supply D) increases; supply
Mortgage backed securities had a role in the 2008 financial crisis
Indicate whether the statement is true or false
Economic theory indicates that the amount consumed of a natural resource depends on
a. the price of the resource. b. consumer income. c. the price of substitute resources. d. all of the above.
A rightward shift of the investment demand curve will:
A. Shift the investment schedule downward B. Shift the investment schedule upward C. Decrease the quantity of investment D. Decrease the real rate of interest