If the Fed responds to an initial increase in aggregate demand by increasing the quantity of money...
What will be an ideal response?
there is the risk of continued inflation
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Legally established titles to ownership, use, and disposal of factors of production and goods and services, are called ________ rights
A) government B) pollution C) property D) inefficient E) private
The demand for salt is
a. inelastic because there are few substitutes for salt and it represents a large percentage of a consumer's budget. b. inelastic because there are many substitutes for salt and it represents a large percentage of a consumer's budget. c. inelastic because there are few substitutes for salt and it represents a small percentage of a consumer's budget. d. elastic because there are no substitutes for salt and it represents a large percentage of a consumer's budget. e. elastic because there are many substitutes for salt and it represents a large percentage of a consumer's budget.
The National Bureau of Economic Research (NBER), a private group, is responsible or declaring when recessions begin and end. The Bureau of Economic Analysis (BEA), part of the federal government, might now want to take on this responsibility. Which one of the following is the most appropriate reason for the BEA's refusal?
A. Congress has established that its committees should be responsible for dating recessions. B. More economists work for the NBER than do for the BEA C. Because it is part of the government, the BEA could be pulled into politics with the dating of recessions D. The BEA does not have as much data s the NBER
If Katie purchases two slices of pizza and six breadsticks to maximize her total utility, then
A) a slice of pizza costs three times as much as a breadstick. B) a breadstick costs three times as much as a slice of pizza. C) her marginal utility from the second slice of pizza divided by the price of a slice of pizza is equal to her marginal utility from the sixth breadstick divided by the price of a breadstick. D) Both answers A and C are correct.