Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. What fundamental economic question are they addressing by offering this range of items?
A) What to produce? B) Why produce a variety of items?
C) Who to produce the items for? D) How to produce goods that consumers want?
A
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Which of the following functions are performed by depository institutions?
I. They make long-term loans using short-term deposits, thereby creating liquidity. II. They efficiently gather funds from a large base of depositors. III. They concentrate risk. A) I only B) II only C) III only D) I and II
If the government created a surplus of an agricultural product due to price supports, how might they dispose of this surplus?
A) give it away to a foreign country B) purchase it and store it away C) have the farmer destroy the crop D) Any of these answers might be a successful tool in disposing of agricultural surpluses.
If there is currently an inflationary gap in the economy the Fed could work toward recovery through an open market sale of government securities
a. True b. False Indicate whether the statement is true or false
Sheamous loses his job and decides to sit on the beach rather than look for work during the next few months. Other things the same, the unemployment rate
a. increases, and the labor-force participation rate decreases. b. increases, and the labor-force participation rate is unaffected. c. is unaffected, and the labor-force participation rate decreases. d. and the labor-force participation rate are both unaffected.