Small businesses that operate outside the normal framework of laws and regulations are part of the
a. informal sector
b. capital intensive sector
c. International Comparison Project
d. human capital network
e. none of the above
A
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A line item budget _____
a. groups expenditures by congressional district b. groups expenditures by the goals they are trying to achieve c. groups expenditures by the types of items that are purchased d. groups expenditures by special interest
The more flexible prices are, the
A) greater demand shifts have to be to bring about a new equilibrium. B) larger the shifts in supply will be after a change in demand. C) greater the reliance by sellers to change the nominal price. D) more quickly a shock to the economy can be absorbed.
Assume that in the country of Salmon, the government tripled the money supply overnight. As a result of this action, the price of a loaf of bread increased from 1 bill to 100 bills. This is an example of
A. currency debasement. B. deflation. C. a change from commodity money to fiat money. D. a change in the legal tender.
If a landlord can get everyone out of the apartment building and refurbish it, they
A. can charge whatever rent they want and increase it whenever they want. B. can only charge a refurbishing fee that is also controlled. C. can charge whatever rent they want, but it then becomes controlled at a higher rent. D. must still only charge the rent that they were charging before the repairs.