A resource
A. only includes physical things.
B. must come from the earth.
C. is anything that we consume directly or use to make things we will ultimately consume.
D. A) and C)
Answer: C
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Educated people may generate ideas that increase production. These ideas
a. produce a return to society from education that is greater than the return to the individual. b. could justify government subsides for education. c. are external benefits of education. d. All of the above are correct.
Investment in physical capital means
A. purchasing supplies. B. purchasing equipment and buildings. C. taking out loans. D. hiring more employees.
A change in price is reflected by a movement along the same demand curve while a change in demand refers to a shift of the entire demand curve.
a. true b. false
When the Fed lowered short-term interest rates to near zero but the policy didn't seem to stimulate the economy enough, the Fed in 2009 also began conducting the policy of expansive buying of bonds now known as:
A. ZIRP (zero interest rate policy) B. QE (quantitative easing) C. Operation Twist D. Zero Lower Bound