Compare and contrast the world population with that of the United States. Is the United States becoming a larger or a smaller part of the world's population?
What will be an ideal response?
The U.S. population was approximately 311 million in 2011. It is growing at a rate of about one person in every 12 seconds. The world population in 2011 was about 7 billion and is growing at a rate of 30 people in the same 12 seconds. Hence the United States is becoming a smaller fraction of the world's population.
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Monetarists advocate increasing the money supply by a constant rate year after year. True or False
Sarita can bake either a combination of 25 cakes and 15 pies or a combination of 10 cakes and 20 pies. If she now bakes 10 cakes and 20 pies, what is the opportunity cost of baking an additional 15 cakes?
A) 5 pies B) 10 pies C) 15 pies D) 20 pies
What two fiscal policy actions could the government take if it wants to stimulate the economy during a recession? What two fiscal policy actions could the government take if it wants to slow the economy down during a period of rapid growth and
increasing inflation?
The supply curve shows the relationship between
A. the demand and supply schedules. B. price and quantity supplied. C. income and quantity supplied. D. quantity demanded and quantity supplied.