The War on Poverty program was initiated by President
a. John F. Kennedy
b. Franklin D. Roosevelt
c. Richard Nixon
d. Lyndon B. Johnson
e. Ronald Reagan
D
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The term "saving" is a flow concept while the term "savings" is a stock concept
a. True b. False Indicate whether the statement is true or false
The economy's supply of loanable funds is
a. a result of firms' borrowing decisions b. a vertical line at the current level c. downward sloping d. a result of people's saving decisions e. the same as wage-related rent
Firms in a cartel usually charge:
A. the same price. B. different prices to reflect their different costs. C. lower prices than a monopoly would. D. higher prices than a monopoly would.
When the prices of a country's imports decrease, the prices of domestic goods may decrease. This occurs because
A. a decrease in the prices of imported inputs will cause aggregate demand to increase. B. if import prices fall relative to domestic prices, households will tend to substitute domestically produced goods and services for imports. C. if import prices fall relative to domestic prices, households will tend to substitute imports for domestically produced goods and services. D. a decrease in the prices of imported inputs will cause aggregate supply to decrease.