Putting quarters into a Las Vegas slot machine and receiving quarters out of that machine is analogous to
a. the gross domestic product
b. aggregate demand
c. aggregate supply
d. consumption
e. the circular flow of money through firms and households
E
You might also like to view...
An outward shift in the entire production possibilities frontier
A. represents economic decline. B. means that previous levels of production are now unobtainable. C. means that the only way the economy can increase the production of one good is by producing less of an alternative good. D. represents economic growth.
Moving along the short-run Phillips curve, as the unemployment rate increases, the inflation rate
A) initially increases and then decreases. B) remains unchanged. C) increases. D) decreases. E) initially decreases and then increases.
Refer to Scenario 14-2. As a result of Kristy's deposit, Bank A can make a maximum loan of
A) $2,000. B) $8,000. C) $10,000. D) $50,000.
An increase in the discount rate will lead to a decrease in the money supply
a. True b. False