What is the benefit of a high saving rate?
A high saving rate provides more resources to expand the capital stock and so raise productivity and the standard of living.
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By designating Federal Reserve currency as legal tender, the federal government
A) has ensured that Federal Reserve currency will serve as money. B) has guaranteed that Federal Reserve currency may be exchanged for an equivalent amount of gold or silver. C) has mandated that Federal Reserve currency be accepted for payment of debts. D) has mandated that Federal Reserve currency be accepted by citizens of foreign countries in exchange for their countries' currencies.
Because financial markets clear, we know that leakages in the economy will equal injections and, therefore, there will be enough spending in the economy to purchase whatever amount of output level produced
a. True b. False
U.S. corporate stock is distributed fairly equally among U.S. stockholders
Indicate whether the statement is true or false
A monopsony is a market situation in which there is only one buyer
a. True b. False Indicate whether the statement is true or false