Economics is the study of how people cope with:
a. fluctuations in stock prices.
b. greed
c. limited human wants.
d. limited resources.
d
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Explain how unemployment changes over the business cycle. Why do these changes occur?
What will be an ideal response?
The slope of the aggregate expenditure function is the sum of the:
A) marginal propensity to consume and marginal propensity to save. B) marginal propensity to consume and marginal propensity to invest. C) marginal propensity to consume, marginal propensity to save, and marginal propensity to import. D) marginal propensity to consume, marginal propensity to invest, and marginal propensity to import.
A bank run is
A) a large-scale, panicky withdrawal of deposits from a bank. B) the transfer of funds from one bank to another. C) a situation when a bank borrows from the Fed's discount window. D) a situation in which a bank borrows at the Federal funds rate.
An important cause of recessions is an unexpected negative supply shift, such as higher oil prices.
Answer the following statement true (T) or false (F)