The ________ effect can be divided into the ________ effect and the ________ effect
A) marginal; substitution; price
B) income; substitution; price
C) substitution; price; income
D) price; substitution; income
D
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Which of the following statements is NOT a function of the Fed?
A) It ensures that commercial banks report their assets and liabilities with accuracy. B) It monitors the stockholders' equity of commercial banks. C) It oversees interbank payment systems. D) It regulates the various stock markets in the economy.
Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The charge of dumping electric lawnmowers in the Omegalon market means that Alphonia was accused of
A) selling faulty electric lawnmowers in Omegalon. B) discarding electric lawnmowers which would not sell in their home country. C) selling electric lawnmowers below cost or below domestic prices. D) selling counterfeit-branded electric lawnmowers in Omegalon.
Consider a production possibilities curve for an economy producing bicycles and video game players. It is possible to increase the production of bicycles without sacrificing video game players if:
a. the production possibilities curve shifts outward due to technological progress b. the production possibilities curve shifts outward due to increased immigration (which enlarges the labor force). c. the economy moves from a point inside the production possibilities curve to a point on the curve. d. any of the above occur.
An __________ is one in which is it not possible, through any change in the distribution of Good X or Good Y, to benefit one person without making some other person worse off.
Fill in the blank(s) with the appropriate word(s).