Economic growth means people produce
A) money.
B) material things.
C) whatever people value.
D) only durable and high-quality goods.
C
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If the real interest rate is 2% and expected inflation is 2%, the nominal interest rate is:
A) 0% B) 1% C) 2% D) 4%
If children can be considered durable goods, then this would help explain
(a) high birth rates among farm families. (b) small family size among farm families. (c) lower birth rates in towns than in the countryside. (d) lower birth rates in the countryside than in towns.
The United Bank of Glassen only lent money to a limited number of big business houses. After a financial crisis, the bank went out of business. Which of the following reasons could have contributed to the collapse of this bank?
a. Their decision not to lend funds to the Federal Reserve b. Their decision not to diversify their asset portfolio c. Their decision to extend loans to a diversified pool of borrowers d. Their decision to extend mainly short-term loans e. Their decision to unnecessarily scrutinize each borrower's details
The absolute price elasticity of demand would be the lowest for
A) automobiles. B) Mr. Donut coffee. C) sugar. D) movie tickets.