There is a 20% chance that you will earn $20,000; a 20% chance that you will earn $40,000; and a 60% chance you will earn $50,000. What are your expected earnings?
What will be an ideal response?
$42,000
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The price fluctuations in the U.S. economy suggest that recessions cause lower unemployment and higher inflation
a. True b. False Indicate whether the statement is true or false
Open market operations refer to the purchase or sale of ________ to control the money supply
A) corporate bonds and stocks by the Federal Reserve B) U.S. Treasury securities by the Federal Reserve C) corporate bonds and stocks by the U.S. Treasury D) U.S. Treasury securities by the U.S. Treasury
The index most widely used by the government and the private sector to measure changes in the cost of living is the
A) Consumer Price Index. B) Producer Price Index. C) the chain-weighted price index. D) the GDP deflator.
Which of the following best describes a double coincidence of wants?
A) Two buyers want the same good. B) Neither buyer wants a good. C) You have what another wants and you want what they have. D) A buyer and a seller rather than two buyers or two sellers must meet. E) None of the above answers is correct.