The word “economy” comes from the Greek word oikonomos, which means Question 39 options: “environment.” “production.” “one who manages a household.” “one who makes decisions.”
a. "environment"
b. "production"
c. "one who manages a household"
d. "one who makes decisions"
Answer: c. "one who manages a household"
You might also like to view...
The opportunity cost of holding excess reserves is the federal funds rate
A) minus the discount rate. B) plus the discount rate. C) plus the interest rate paid on excess reserves. D) minus the interest rate paid on excess reserves.
Using a fixed exchange rate to undervalue your currency:
A. will increase your exports. B. will encourage capital flow to countries other than your own. C. makes imports very expensive for your citizens. D. All of these statements are true.
If the economy is experiencing inflationary boom, and the government lowers taxes in an effort to balance the budget, the Keynesian model indicates the likely effect will be to
a. counteract inflation. b. reduce the trade deficit. c. continue inflationary pressures. d. increase unemployment.
The demand for goods such as heart medicine, cigarettes, and gasoline tends to be
A. perfectly elastic. B. relatively elastic. C. unit elastic. D. relatively inelastic.