Economic systems differ from one another based on who own the factors of production and:
A. How much resources are available in the economy and where they are located
B. Who make decisions regarding what to produce and how it is produced
C. What kinds of products are produced in the economy and how plentiful they are
D. How big the population is, and the makeup of the population
Answer: B
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The ________ traces out the points for which total quantity of goods produced equals total quantity of goods demanded
A) LM curve B) IS curve C) consumption function D) investment schedule
How does an increase in the short-term interest rate affect peoples' desire to hold real money balances?
A) People will hold more money to compensate for the higher interest rate. B) People will hold more money in anticipation of higher inflation. C) People will hold less money since they would be sacrificing more interest by holding money. D) People will hold less money since it is not worth as much.
The Fed is part of the executive branch of the federal government
a. True b. False Indicate whether the statement is true or false
If the U.S. government enters the foreign exchange market and purchases dollars to attain a specific exchange rate with the yen, the dollar will ________ and the yen will ________.
A. depreciate; depreciate B. depreciate; appreciate C. appreciate; depreciate D. appreciate; appreciate