One advantage of a money system compared to a barter system is that
a. barter never works.
b. money creates the need for banks.
c. money is more efficient.
d. everyone has money.
C
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If the economy were at full employment and is producing at point Y,
A. the unemployment rate would increase.
B. the unemployment rate would decrease.
C. the production possibilities frontier would have shifted inward.
D. the production possibilities frontier would have shifted outward.
In the circular flow model, which of the following is on the selling side in the goods market?
A) federal, state, and local governments B) only households C) exporters D) only firms E) both firms and households
Refer to Table 9-12. Which country has a comparative advantage in producing belts?
A) Estonia B) Morocco C) both countries D) neither country
In the 1965 to 1973 period, U.S. policymakers ________
A) targeted an unemployment rate that, in hindsight, was likely too low B) pursued an easing of monetary policy designed to increase aggregate demand C) made some mistakes that led to the most sustained inflationary episode in U.S. history D) all of the above E) none of the above