Given the production possibility curve shown below, the opportunity cost of listening to each additional album when moving from point B to point A is on average:
A. 1 article.
B. 3 articles.
C. 2 articles.
D. 1/2 article.
Answer: D
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In the market for reserves, a lower discount rate
A) decreases the supply of reserves. B) increases the supply of reserves. C) lengthens the vertical section of the supply curve of reserves. D) shortens the vertical section of the supply curve of reserves.
Changes in the money supply are ________ to other economic variables, and since the early 1990s the Fed has ________ in monetary policymaking
A) closely connected; emphasized the role of M2 over M1 B) closely connected; emphasized the role of M1 over M2 C) closely connected; emphasized the roles of both M1 and M2 D) no longer closely connected; deemphasized the roles of M1 and M2
If the foreign exchange rate is one dollar for 10 South African rand, then how many dollars are needed to purchase an item that costs 100 rand?
A. 0.01 B. 100 C. 1,000 D. 10
Moral hazard is
A. The abuse of the welfare system by some nonneedy recipients. B. The involvement in illegal activity. C. An incentive to engage in undesirable behavior. D. The risk involved in accepting welfare.