Risk-averse individuals like good things more than they dislike comparable bad things
a. True
b. False
Indicate whether the statement is true or false
False
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When government revenues exceed government outlays in a particular year, this is called
A) a budget surplus. B) a budget deficit. C) the national debt. D) fiscal policy.
Legislators often have difficulty passing legislation with widespread benefits, but that imposes concentrated costs because those who bear the costs will __________ the legislation, while those who would reap the benefits will __________ the legislation
a. protest; actively support b. not protest; not actively support c. not protest; actively support d. protest; not actively support e. protest; protest
Microeconomics is the branch of economics that focuses on:
a. broad issues such as growth, unemployment, inflation, and trade balance. b. the actions of particular agents within the economy, like households, workers, and business firms. c. the means of production (resources and businesses) that are owned and operated by private individuals or groups of private individuals. d. workers or firms, and whether they are well suited within the overall production process.
Following the economic crisis in 1994-1995, the Mexican peso fell sharply in value. What will be the main economic effects in Mexico of such an exchange rate change?
a. It will decrease aggregate demand and aggregate supply, so that output will certainly fall, and prices may fall as well. b. It will increase aggregate demand and aggregate supply, so that output will certainly rise, and prices may rise as well. c. It will increase aggregate demand and decrease aggregate supply, so that prices will certainly rise and output may rise as well. d. It will decrease aggregate demand and increase aggregate supply, so that prices will certainly fall and output may fall as well.