Keynesian economics focuses on the role of aggregate spending in determining the level of real GDP
a. True
b. False
Indicate whether the statement is true or false
True
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When people reduce their rate of time preference
A) more credit is made available in the banking system. B) less credit is made available in the banking system. C) the demand for credit shifts right. D) the supply of credit shifts left.
Which statement is true?
A. Rent and wages, but not interest, are determined by supply and demand. B. Wages and interest, but not rent, are determined by supply and demand. C. Rent and interest, but not wages, are determined by supply and demand. D. Rent, interest, and wages are determined by supply and demand.
The Sarbanes-Oxley Act of 2002 attempts to reduce corporate fraud among top-level executives. Comment on the strengths and weaknesses of this act.
What will be an ideal response?
Scarcity:
A. exists because resources are unlimited while human wants are limited. B. means we are unable to have as many goods and services or as much time for activities as we would like to have. C. will likely be eliminated as technology continues to expand. D. is not an issue addressed in economics.