In early 2013, two economists debated the question of whether:
a. the trade deficit should be reduced rapidly or steadily
b. the United States was past its prime
c. the percentage of health care to GDP was a warning sign for the economy
d. none of these
b
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Which of the following statements is true?
A) It is possible for an economy to change its economic institutions but not its political institutions. B) Neither the political institutions not the economic institutions of a nation can be changed. C) It is possible for an economy to change its political institutions but not its economic institutions. D) It is possible for an economy to change both its political and economic institutions.
Competitive firm can earn economic profits over the long run
Indicate whether the statement is true or false
Currency includes
a. paper bills and coins. b. demand deposits. c. credit cards. d. Both (a) and (b) are correct.
When the Federal Reserve wants to stimulate the economy, it is likely to
a. increase the reserve requirement. b. increase the discount rate. c. buy government bonds from banks and other businesses. d. increase the margin requirements. e. prohibit borrowing from commercial banks.