Which of the following is an important ingredient for the achievement of efficient economic organization
What will be an ideal response?
secure property rights and political stability
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When the price of a normal good decreases, people buy ________ of the good due to ________
A) more; the substitution effect only B) more; the substitution and income effects C) less; the substitution effect only D) less; the income effect only
The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks assuming he has $20 to spend on these goods
Which of the following points are on Bobby's demand curve for snacks? A) p = 2, q = 10 B) p = 2, q = 13 C) p = 2, q = 5 D) p = 1, q = 20
The central bank of the United States is:
A. Bank of America. B. the Federal Reserve System. C. Bank of the United States. D. the U.S. Treasury.
Open-market operations, changes in reserve requirements, changes in the discount rate, and changes in the interest rate on reserves are known as
A. derivatives. B. intermediate targets. C. goals. D. instruments.