Public choice is concerned with
A) relative prices.
B) government decision making.
C) marketing techniques.
D) consumer surveying.
B
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
What factors would make you more sensitive or less sensitive to price when purchasing gasoline?
What will be an ideal response?
Special Drawing Rights
A) are granted by the Fed to banks which want to trade in the foreign exchange markets. B) were eliminated when the Bretton Woods system broke down. C) are created by the IMF in its role as lender of last resort. D) were created by the Nixon administration on August 15, 1971.
According to the law of supply, as the price of a good increases,
a. buyers will buy more of the good. b. buyers will buy less of the good. c. sellers will produce more of the good. d. sellers will produce less of the good.