Inputs in production processes are called resources
a. True
b. False
Indicate whether the statement is true or false
True
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If the Central Bank of Macroland puts an additional 1,000 dollars of currency into the economy, the public deposits all currency into the banking system, and banks have a desired reserve/deposit ratio of 0.20, then the banks will eventually make new loans totaling ________ and the money supply will increase by ________.
A. $1,000; $5,000 B. $1,000; $1,000 C. $4,000; $4,000 D. $4,000; $5,000
Refer to the figure above. If Barylia does not engage in international trade, what is the production of calculators in the country?
A) 10 units B) 20 units C) 40 units D) 60 units
Refer to the scenario above. If Frank discounts delayed utilities with a weight of 9/10, then which of the following statements is true?
A) He will eat both hotdogs and ice cream. B) He will eat hotdogs but avoid ice cream. C) He will eat ice cream but avoid hotdogs. D) He will avoid consuming both hotdogs and ice cream.
Rent-seeking behavior imposes no costs on society because it is elected officials who actually make public sector decisions
a. True b. False