If this is a closed economy, the number of TVs exchanged will be ________.
A. 120,000
B. 60,000
C. 30,000
D. 90,000
Answer: B
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If the Fed wanted to use all of its policy variables to decrease the supply of money, which of following would that include? a. Increasing its open market sales of government securities. b. Increasing the required reserve ratio
c. Decreasing the interest rate it pays banks on bank reserves. d. It would include all of the above.
If the government increases its military spending, the aggregate demand curve shifts to the right
Indicate whether the statement is true or false
What would we have to assume before constructing a society's production possibilities frontier?
What will be an ideal response?
Which of the following statements about scarcity is TRUE?
A. Scarcity is a problem only in countries that do not use markets to organize economic activity. B. Scarcity occurs only among less developed countries. C. Scarcity is a problem only for greedy people. D. Scarcity exists in all societies.