Why does economics fit well as a liberal arts education?
What will be an ideal response?
A liberal arts education provides broad knowledge and thinking skills, so a worker is more flexible in responding to changes in the workplace. Economics fits naturally into the liberal arts because it provides a framework for problem-solving that can be applied everywhere, from making a personal decision about where to live, to a national decision about when to stimulate the economy with a tax cut, to a global decision about how to respond to climate change.
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What are the functions of depository institutions?
What will be an ideal response?
Refer to Figure a. Assuming the solid line in the graph is a constant expected consumption line where ? (the probability of state S) = 0.50, which constant expected consumption line reflects an increase in ??
A. The dotted line
B. The dashed line
C. An increase in ? does not result in a change in the expected consumption line.
D. A change in ? results in a parallel shift in the expected consumption line, so neither the dotted nor the dashed line reflects this change.
Hogrocket, which developed the Tiny Invaders game for the iPhone, found that to maintain sales in a profitable competitive market, the price of a product
A) will usually rise. B) will usually remain stable. C) will eventually fall to zero. D) will usually fall.
Which of the following improves a person’s ability to accumulate wealth?
a. Starting to save money early in life b. Investing in real estate c. Applying the random walk theory d. Graduating from high school