Which is not considered to be an economic resource?
a. Money
b. Labor
c. Land (or natural resources)
d. Tools and machinery
a. Money
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If the price of chicken falls, then in the market for beef
A) the demand curve for beef shifts rightward. B) the demand curve for beef shifts leftward. C) there is a movement downward along the demand curve for beef. D) there is a movement upward along the demand curve for beef.
Self-interest relates to
A) only monetary objectives. B) both monetary and nonmonetary objectives. C) the ceteris paribus assumption. D) normative economic analysis and not positive economic analysis.
Under the current Social Security system, married persons may draw benefits based on
a. only their own earnings. b. their own earnings or draw 50 percent of the benefits earned by their spouse. c. their own earnings plus 50 percent of their spouse's earnings. d. their own earnings plus 100 percent of their spouse's earnings.
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.