Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom is on budget constraint AC and the price of a hamburger is $4.00. Tom's monthly income is
A. $20.
B. $60.
C. $80.
D. $100.
Answer: C
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When a bank loans out $1,000, the money supply
a. does not change. b. decreases. c. increases. d. may do any of the above.
In 2009, we ran a capital account surplus of $__________ billion.
Fill in the blank(s) with the appropriate word(s).
Differences in the stock of human capital between nations are an example of a(n):
A) proximate cause of prosperity. B) implicit cause of prosperity. C) explicit cause of prosperity. D) fundamental cause of prosperity.
Opponents of government intervention in the economy argue that externalities:
A. do not create problems for the model. B. may not be effectively corrected by the government. C. are themselves the inevitable result of government policies. D. should be corrected with regulations rather than subsidies.