Which one of the following is not a mixed economy?
A. United States
B. China
C. Japan
D. All of the countries listed are mixed economies.
D. All of the countries listed are mixed economies.
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The "gold-standard" is a system in which:
A) gold mining firms own the right to print currency. B) people use gold as a medium of exchange. C) paper currency is backed by gold. D) gold is imported into the U.S. in exchange of paper currency.
Questions of what to produce, how much to produce, and who will get the output must be faced by
A. market economies. B. centrally planned economies. C. the economies of underdeveloped countries. D. all economies.
The marginal propensity to consume rises as the absolute level of income increases
Indicate whether the statement is true or false
Pick the economic variable that is countercyclical
a. Government transfer payments b. Prices c. Consumption d. Nominal interest rates e. All of the above are countercyclical variables