Optimal resource allocation is achieved if P = MC
Indicate whether the statement is true or false
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When the First Bank of Townsville makes a loan, it
A) prints money. B) borrows the money from the Fed. C) creates a checkable deposit. D) decreases the quantity of money. E) increases its reserves.
If economists forecast a decrease in aggregate expenditure, which of the following is likely to occur?
A) Inventories will fall. B) GDP will rise. C) GDP will fall. D) Wages will rise.
The following would cause an upward shift in the C + I + G + X curve EXCEPT
A) an increase in disposable income. B) an increase in export spending. C) a decrease in import spending D) an increase in household wealth.
In the Wealth of Nations, Adam Smith wrote about how countries could increase their consumption of goods and services through specialization and trade with other countries
a. True b. False Indicate whether the statement is true or false