According to the law of demand, a demand curve:
a) Is downward sloping.
b) Is upward sloping.
c) Can slope either upward or downward based on consumer behavior.
d) Is a horizontal, or flat, line.
Ans: a) Is downward sloping.
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An educated populace contributes to economic growth because
A) schools provide many jobs for teachers. B) education allows workers to develop skills that increase their productive capabilities. C) educated people are more likely to live in poverty. D) educated people understand the importance of protectionism.
A central bank's balance sheet would categorize each of the following as liabilities, except:
A. accounts of the commercial banks. B. currency. C. the government's account. D. loans.
In the market period, a steel manufacturer has a __________ productive capacity.
Fill in the blank(s) with the appropriate word(s).
Refer to Table 18-1. Suppose a series of votes are taken in which each pair of alternatives is considered in turn. If the vote is between allocating funds to education subsidies and increased border security
A) Jasmine and Ivy vote for increased border security, Rose votes for education subsidies, and increased border security wins. B) Ivy and Jasmine vote for education subsidies, Rose votes for increased border security, and education subsidies wins. C) Jasmine and Rose vote for education subsidies, Rose votes for increased border security, and education subsidies wins. D) Ivy and Rose vote for increased border security, Jasmine votes for education subsidies, and increased border security wins.