The existence of an inflationary gap would tend to benefit most
A. bankers.
B. retired persons.
C. unemployed workers.
D. stock owners.
Answer: C
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What are the two ways in which extractive institutions affect the number of entrepreneurs in a nation?
What will be an ideal response?
Economic theory assumes people
A) rarely act generously. B) consistently act selfishly. C) make choices based on a comparison of cost and benefits. D) are fundamentally complex. Therefore, no general theory can be deduced to make sense out of the decisions and choices people make.
Which of the following statements about M1 and M2 is true?
A) Demand deposits are not part of M1. B) M2 is more liquid than M1. C) M1 is larger than M2. D) Savings deposits are part of M2.
Which of the following is not equal to the others in equilibrium?
A) the real wage B) the marginal rate of substitution between leisure and consumption C) the marginal product of labor D) the price of consumption