Property rights protect
A) only the rights to physical property.
B) rights to physical property, financial property, and intellectual property.
C) the government's right to impose taxes.
D) only the rights to financial property.
E) all rights except rights to intellectual property.
B
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If the Treasury borrows from the public and makes an expenditure of an equal amount, it will affect
A) the supply of currency. B) the money supply. C) the supply of government securities. D) bank reserves.
The law of demand is illustrated by a demand curve that is:
a. horizontal. b. downward-sloping. c. vertical. d. upward-sloping.
Aggregate demand shifts right if at a given price level
a. taxes rise and shifts left if the money supply increases. b. taxes rise and shifts right if the money supply increases. c. taxes fall and shifts left if the money supply increases. d. taxes fall and shifts right if the money supply increases.
Any point inside a production possibilities curve indicates:
A) unemployment and/or inefficiency. B) that the law of increasing opportunity costs is no longer valid. C) that society doesn't want more of either good. D) that economic growth is no longer possible.