The group of three economists appointed by the president to provide fiscal policy recommendations is the:
A. Council of Economic Advisers.
B. Joint Economic Committee.
C. Bureau of Economic Analysis.
D. Federal Reserve Board of Governors.
A. Council of Economic Advisers.
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If Wendy can produce more of all goods than Tommy in an hour, then
A) Wendy has an absolute advantage in all goods. B) Wendy does not need to trade with Tommy in order to achieve the gains from trade. C) Wendy has a comparative advantage in all goods. D) Tommy has an absolute advantage in all goods. E) Only Tommy but not Wendy can benefit from trade between the two of them.
Being the first to sell a particular good can give a firm advantages over other firms that sell similar products. What is the name given to these advantages?
A) first come, first served B) follow the leader C) first-mover D) first to market
The public, by raising the currency-to-deposit ratio, ________ the deposit creation multiplier, ________ the money supply
A) raises, and raises B) raises, yet does not affect C) lowers, yet does not affect D) lowers, and lowers E) does not affect, yet raises
The so-called wealth effect will result in households:
A. Spending more and saving less B. Spending less and saving more C. Spending less and saving less D. Spending more and saving more