Suppose somebody made the following statement: "There will never be a substitute for Howard Stem, the Sirius radio shock-jock." The economic way of thinking suggests that this statement
What will be an ideal response?
is incorrect because many people choose to listen to other shock jocks as the perceived costs of listening to Howard Stem change.
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When part of the quantity of money is held in currency, then
A) a currency drain occurs. B) there is a higher level of excess reserves. C) the money multiplier will increase in value. D) the Fed will find it beneficial to increase the discount rate.
If the current account has a negative balance of $100 and the capital and financial account has a positive balance of $80, there will be ________ in official reserves of ________
A) a decrease; $20 B) an increase; $20 C) an increase; $180 D) a decrease; $180
In terms of unemployment, hysteresis models try to explain why
a. cyclical unemployment is always present. b. structural unemployment cannot be eradicated. c. high unemployment persists even after its initial cause is long past. d. frictional unemployment is the cause of hysteresis.
The supply curve is influenced by
A) the income of consumers. B) the number of customers in the market. C) the prices of the inputs required to produce the product. D) the expectations of future profit.