The U.S. economy has become a less open economy over the past 50 years.
Answer the following statement true (T) or false (F)
False
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From the perspective of economic theory, property rights are
A) human rights. B) just as important as human rights. C) less important than human rights. D) more important than human rights. E) usually in conflict with human rights.
Janet Yellen, Chair of the Federal Reserve, must choose whether tomorrow she meets with the Secretary of the Treasury or with the Congress regarding the financial crisis. This choice reflects the
A) fact that Ms. Yellen faces scarcity. B) concept of entrepreneurship. C) fact that Ms. Yellen responds to incentives. D) use of capital.
A government budget deficit occurs when government revenues exceed government expenditures.
Answer the following statement true (T) or false (F)
The primary concern of current critics of fiat money is that:
A. fiat money is too easy to counterfeit. B. government will issue too little threatening economic growth. C. fiat money is too costly to produce. D. governments issue too much money threatening its value.