Electronic banking does not include
a. credit cards.
b. debit cards.
c. smart cards.
d. direct deposit of paychecks.
a. credit cards.
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Suppose that Germany, France, Estonia, and India all have the same production possibilities, illustrated in the figure above. Based on the production points in the figure, Germany is most likely to expand its PPF to
A) PPF3 or PPF2. B) PPF3. C) PPF1. D) PPF1. or PPF2. E) PPF2.
As a firm hires more workers, holding the amounts of capital and other inputs constant,
A) output increases at a decreasing rate. B) output increases at a constant rate. C) output increases for a while and then decreases. D) output increases, but we can't be certain whether output increases at an increasing or a decreasing rate.
If a single supplier of labor, such as a union, were supplying labor to a single monopsonistic employer, this is referred to as a(n)
A) bilateral monopoly. B) trilateral monopoly. C) total monopsony. D) collective monopoly.
Keynesian economics:
a. affirms the classical economists' basic premise concerning competitive markets. b. believes that monopolies and unions tend to be permanent fixtures in our economy and the prices they create tend to be flexible, at least downwardly. c. emphasizes the possibility that an economy can never be in equilibrium at less than full employment. d. prefers to emphasize aggregate supply over aggregate demand. e. believes that unemployment results when aggregate demand is insufficient to reach a full-employment level of real GDP.