The primary benefit to the macroeconomy of increasing government spending is a(n)
a. decrease in the price level.
b. decrease in real GDP.
c. increase in the price level.
d. decrease in the unemployment rate.
d
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The M1 measure of money consists of the sum of:
A. checking deposits and travelers' checks. B. currency, checking deposits, and travelers' checks. C. currency, checking deposits, and savings deposits. D. currency and travelers' checks.
Economic profit is another name for accounting profit
a. True b. False
The nucleus of the Federal Reserve System is
a. its Board of Governors, which meets in Washington, D.C. b. the Committee of Wall Street, which convenes in New York c. the Discount Rate Committee d. the Thrift Institutions Advisory Council e. the Council of Economic Advisers, which meets regularly with the President
If all the world's resources were to magically increase one hundredfold, then:
A. scarcity would disappear. B. trade-offs would become unnecessary. C. economics would no longer be relevant. D. people would still have to make trade-offs.