The process by which new product or production methods are introduced is called the Industrial Revolution.
Answer the following statement true (T) or false (F)
False
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Suppose the required reserve ratio is 8% and the Fed purchases $100 million worth of Treasury bills from Wells Fargo. By how much is Wells Fargo able to increase its loans?
A) $8 million B) $92 million C) $100 million D) $1.25 billion
Which of the following best describes stagflation?
a. Rising unemployment together with economic growth b. Deflation coupled with a decline in money supply c. Deficits coupled with rising unemployment d. Rising unemployment and high inflation rates e. Inflation coupled with balance of trade deficits
The "natural rate of unemployment" is
a. the highest unemployment rate that can be tolerated b. affected by social programs c. not accepted among economists d. likely to be above 10 percent e. not an economic concept
Which of the following transactions is excluded from GDP?
A. You buy a government bond for $100. B. Intel buys a new jet to ferry its workers from its Folsom, CA headquarters to Santa Clara. C. The local government spends $500,000 for a new park. D. The Brazilian air force buys jets from the U.S. air force.