Which of the following is an accurate statement about hyperinflation?
a. It usually happens when a country experiences steady economic growth for many years.
b. It can be caused when a government needs to print large amount of money to pay huge debts.
c. It often occurs when a government sharply reduces the money supply to curb inflation.
d. It happens less often during wars or periods of political unrest.
b. It can be caused when a government needs to print large amount of money to pay huge debts.
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________ markets transfer funds from people who have an excess of available funds to people who have a shortage
A) Commodity B) Fund-available C) Financial D) Derivative exchange
When the colonies obtained independence they were no longer bound by a number of English laws, including the Navigation Acts which restricted and regulated trade. What best describes the impact of the removal of the Navigation Acts for commodities that were imported from England? a. A shift out of the supply curve and a shift back in the demand curve, which lowered prices
b. A shift out in the supply curve, which decreased the price and increased the quantity. c. A shift back in both the supply and demand curves, which decreased quantity. d. A shift back in the demand curve, which lowered both price and quantity.
Usury laws interfere with the automatic workings of the market mechanism
a. True b. False Indicate whether the statement is true or false
Which of the following is correct?
a. Workers determine the supply of labor, and firms determine the demand for labor. b. Workers determine the demand for labor, and firms determine the supply of labor. c. The labor market is a single market for all different types of workers. d. The price of the product produced by labor adjusts to balance the supply of labor and the demand for labor.