A positive economic statement is:
A. an opinion of an action that should be taken.
B. an action that will have a positive effect on the economy.
C. a statement testable by facts.
D. a claim that the speaker is positive will occur.
Answer: C
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Which activity of the Fed would tend to increase excess reserves throughout the banking system?
A) Purchases of government bonds on a mass scale B) An increase in the required reserve ratio C) An increase of the discount rate D) Sales of government bonds on a mass scale
John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the accompanying table.Time cleaning windows (hours/day)Total number of windows cleaned0017211314416517 How many hours a day should John spend cleaning windows?
A. 2 B. 3 C. 4 D. 1
________ states that when an established domestic industry is in jeopardy of being displaced by lower-priced imports, then there could be a rationale for temporary import restrictions
a. The infant industry argument b. The antidumping argument c. The jobs and income argument d. The declining industry argument
If an economy is operating at a point inside the production possibilities curve,
What will be an ideal response?