One reason people store wealth is to help smooth consumption over time
Indicate whether the statement is true or false
TRUE
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Suppose Panama produces only two goods, bananas and hats. If Panama has a comparative advantage in bananas, a move toward free trade will
A) benefit hat workers, harm banana workers, but harm the nation as a whole. B) harm hat workers, harm banana workers, but benefit the nation as a whole. C) harm hat workers, benefit banana workers, but benefit the nation as a whole. D) benefit hat workers, harm banana workers, but benefit the nation as a whole.
If you consume a product up to the point that your marginal utility becomes negative, your total utility will be _____.
Fill in the blank(s) with the appropriate word(s).
Use the following table to answer the next question.YearUnemployment Rate (%)Inflation Rate (%)14.03.024.52.535.02.045.53.056.04.5Based on this data, the Phillips curve is ________.
A. of indeterminate slope B. downward sloping C. vertical D. upward sloping
The federal funds rate is the interest rate that
A. the government pays on securities that mature in less than a year. B. commercial banks charge their best customers to borrow money. C. the Fed charges commercial banks to borrow reserves. D. commercial banks charge each other for borrowing and lending reserves.