If a good has the quality that its benefits cannot be denied to anyone, then that good is
a. nonrival
b. merit
c. exclusive
d. nonexclusive
e. social
D
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Deposits with the Federal Reserve Bank are part of a commercial bank's
A) capital. B) reserves. C) loans. D) liabilities.
The absolute poverty line looks at ________, and the relative poverty line captures ________
A. the percentage of the population that falls within the lowest quartile of income earners; what people can afford compared to those around them. B. the percentage of the population that falls within the lowest quartile of income earners; the percentage of the population that earns 40 percent less than the median income. C. who cannot afford the basic necessities; what people can afford compared to those around them. D. what people can afford compared to those around them; who cannot afford the basic necessities.
An increase in demand and a decrease in supply cause which of the following?
A. Equilibrium price change is indeterminate. B. Equilibrium quantity decreases. C. Equilibrium price falls. D. Equilibrium price rises.
The Phillips curve shows
A. that an increase in government spending will decrease real national income. B. the relationship between the rate of interest and planned investment. C. that when inflation is higher, the unemployment rate falls. D. the relationship between the money supply and the price level.