Which is a teenager most likely to have demand for?
a. new sports car
b. luxury condominium
b. athletic shoes
d. building blocks
Ans: b. luxury condominium
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In the market for bank reserves, if the federal funds rate target is higher than the federal funds rate, the Fed will take action to ________ reserves
A) increase both the demand for and the supply of B) decrease the demand for C) decrease the supply of D) increase the demand for E) increase the supply of
What will be the result in a growing economy if increases in aggregate demand outpace rightward shifts of the long-run aggregate supply curve?
A) secular deflation B) inflation accompanied by declines in real GDP C) inflation accompanied by increases in real GDP D) a decline in consumption spending
For each watch Switzerland produces, it gives up the opportunity to produce 50 pounds of cheese. Germany can produce one watch at a cost of 100 pounds of cheese. Which of the following is true?
a. The opportunity cost of producing watches is greater in Switzerland. b. The opportunity cost of producing cheese is greater in Switzerland. c. The opportunity cost of producing cheese is the same in both countries. d. It is impossible to compare costs because the two countries use different technologies. e. In the two countries combined, the cost of producing one watch is 150 pounds of cheese.
If the dollar price of the English pound goes from $1.50 to $1.75, the dollar has
What will be an ideal response?