By definition, economics is the study of
A) how to make money in the stock market.
B) how to make money in a market economy.
C) the choices people make to attain their goals, given their scarce resources.
D) supply and demand.
Answer: C
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The aging of the labor force in the United States is likely to ________ the natural rate of unemployment; an increase in the efficiency of the labor market is likely to ________ the natural rate of unemployment.
A. increase; decrease B. decrease; decrease C. decrease; increase D. increase; increase
Which of the following is correct?
a. Keynesians believe there is a direct link between changes in a nation's money supply and changes in expenditures. b. Monetarists believe there is an indirect link between changes in a nation's money supply and changes in expenditures. c. Monetarists believe there is a direct link between changes in a nation's money supply and changes in expenditures. d. Monetarists believe there is no short-term link between changes in a nation's money supply and changes in expenditures. e. Keynesians believe there is no short-term link between changes in a nation's money supply and changes in expenditures.
If banks switch from holding reserves to holding cash, the policy impact of a negative deposit rate would be:
A. expansionary. B. contractionary. C. indeterminate. D. negligible.
When a consumer is able and willing to buy a good or service, s/he creates ____________ .
a. consumption b. demand c. elasticity d. allocation