Are all goods economic goods? Are all economic goods also goods? Explain
What will be an ideal response?
Not all goods are economic goods. Economic goods are a subset of all goods, and are produced from scarce resources. Sunlight is an example of a good that is not an economic good. Hence, the answer to the second question is "yes."
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When Fed policy is being used to offset a contractionary gap, which of interest rates, investment, net exports and aggregate demand moves in the opposite direction from the others? a. Interest rates
b. Investment. c. Net Exports. d. Aggregate demand..
"In-kind" rather than cash transfer payments are represented by
A. public assistance payments. B. unemployment insurance benefits. C. Social Security benefits. D. food stamps.
A quantity measured in physical terms is called a ________ quantity.
A. relative B. real C. current D. nominal
Which of the following statements is correct?
A. Under the gold standard, exchange rates fluctuate without restraint and thereby correct any international balance of payment disequilibrium B. If nations X and Y are on the international gold standard, and X's exports to Y exceed X's imports from Y, then gold will flow from X to Y C. If the dollar price of pounds rises, then the pound price of dollars will also rise D. American exports tend to increase, while American imports tend to decrease, the supplies of foreign monies owned by American banks