When national output rises, the economy is said to be in
A) an expansion.
B) a deflation.
C) an inflation.
D) a recession.
A
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As farm productivity increases faster than demand:
a. fewer farmers are required to meet demand b. the number of farmers decreases over time c. the decreasing number of farmers is good news for society because the basic economic problem is scarcity d. all of the above
Which of the following statements is FALSE?
a. type b personalities are generally less efficient than type a personalities because they are so relaxed b. type a personalities and type b personalities are both efficient, they just do things different ways c. type b personalities are laid back and casual, which makes them unhealthy and increases their risks d. type a personalities are generally less efficient than type b personalities because they have so many focuses that they never get any one project finished
When the Federal Reserve sells government bonds to the public, it:
A. increases the M1 money supply and increases the reserves of the commercial banking system. B. increases the M1 money supply, while reducing the reserves of the commercial banking system. C. reduces the M1 money supply, while increasing the reserves of the commercial banking system. D. reduces the M1 money supply and decreases the reserves of the commercial banking system.
Which diagram in Figure 9.4 shows what is likely to happen to investment as a new telecommunications technology suddenly is discovered that greatly facilitates the use of computers, cable TV, and other information services?
A. A. B. B. C. C. D. D.