Stability implies a steady rate of economic growth with full employment of resources.
Answer the following statement true (T) or false (F)
True
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Sun's Gas Station is a firm operating in a perfectly competitive industry. Sun's Gas Station sells each gallon of gas for $3. What is the total revenue earned by selling 180 gallons of gas?
A) $240 B) $540 C) $840 D) $3,300
How does a market system prevent people from getting as many goods and services as they wish?
A) In a market system, firms can charge any price they want, thus preventing poor people from getting as many goods and services as they wish. B) Governments interfere with the market mechanism to influence the allocation of goods and services. C) The market system allocates goods and services to those who are able to pay for those products and therefore income is a limiting factor. D) The government imposes taxes on those who earn beyond a certain amount of income.
Assume that yields on bonds (rate of return) begin to fall while the stock market is booming, what should we see happen to the demand and price of stocks and why?
What can we say about the opportunity cost of holding on to bonds in this situation?
"As the price of apples goes up, the demand for apples goes down." The author of this statement
A) implies that price and demand are unrelated. B) uses the word "demand" when he should use the word "supply." C) uses the word "demand" when he should use the words "quantity demanded." D) implies that demand and price have a direct relationship.