The phrase in the text, 'human beings are self-interested, not selfish' means that:
a. people are never selfish.
b. people never act in a spiteful or belligerent manner.
c. people never act in a fit of rage.
d. people contribute to charities and they help others.
e. people care only about themselves and their families.
d
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What is the current equilibrium price level and real GDP for the economy illustrated in the figure above? Does this economy have an inflationary gap, a recessionary gap, or neither? As it adjusts toward full employment, which curve shifts?
What is the equilibrium real GDP and price level that the economy will ultimately reach?
Suppose Embryonica is an LDC with few skilled workers, a primitive banking system, and very little electric power. What do we know for sure that Embryonica is lacking?
a. Infrastructure. b. Political stability. c. Agricultural sector. d. Traditional values. e. Poverty.
Because consumers want more Baby Bigfeet dolls, more Baby Bigfeet dolls will be produced and brought to the market. This is an example of
a. consumer sovereignty b. resources not being scarce c. ceteris paribus d. a natural resource e. macroeconomic activity
An expansionary monetary policy causes interest rates to _____________________, and eventually United States net exports ____________ causing the AD curve to shift to the ___________________
A) fall; rise; right B) fall; fall; left C) rise; rise; right D) rise; fall; left E) rise; rise; left