Cookies would be considered:
A. a common resource.
B. a private good.
C. a public good.
D. an artificially scarce good.
B. a private good.
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If the amount paid as unemployment benefits decreases, the opportunity cost of job search
A) falls and people stay unemployed for a shorter time. B) rises and people would stay unemployed longer. C) rises and people stay unemployed for a shorter time. D) falls and people stay unemployed for a longer time. E) is not affected because unemployment benefits do not change job availability.
Describe the three different approaches to measuring the amount of economic activity that occurs during a period of time and explain why they all give identical measurements
What will be an ideal response?
The position of the long-run aggregate supply curve is determined by
A) the long-run aggregate demand curve. B) the production possibilities curve. C) the open economy effect. D) the interest rate effect.
Suppose a banking system has $200 million in deposits, a required reserve ratio of 10 percent, and total bank reserves of $35 million. Then the potential increase in deposit creation for the whole banking system is equal to
A. $3 million. B. $0. C. $15 million. D. $150 million.