Which of the following is a characteristic of an institution?
A) The institutions of a nation are permanent and cannot be changed over time.
B) Institutions place constraints on the behavior of economic agents.
C) Institutions are determined by individual opinions without considering the government's preference.
D) Institutions have very little influence on a nation's economic prosperity.
B
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A "market" is an arrangement that allows people to exchange things
Indicate whether the statement is true or false
If there is an autonomous decrease in spending (a leftward shift in the aggregate demand curve) and the Fed wishes to hold real income constant, then the Fed would:
A) decrease the money supply yielding a leftward shift in the aggregate demand curve. B) increase the money supply yielding a rightward shift in the aggregate demand curve. C) hold the money supply constant. D) none of the above.
All of the following are considered trade secrets except which one?
A) the creation of a new product B) plans for future expansion C) customer lists D) product recipes
Why is diversification recommended for investors?