The government could close an inflationary gap by increasing government spending by some amount greater than taxes
Indicate whether the statement is true or false
F
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What is an entrepreneur?
What will be an ideal response?
Income in kind is defined as
A) income received in the form of a paycheck. B) payment for services in the form of cash. C) tips. D) income received in the form of goods and services.
Given a required reserve ratio of 0.25, what is the maximum amount by which the money supply can increase in response to a $200 million increase in excess reserves for the whole banking system?
A. $800 million. B. $200 million. C. $500 million. D. $250 million.
If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, only the United States would benefit from trade if the actual terms of trade between corn and wheat were 2:1.
Answer the following statement true (T) or false (F)