Economics is the study of
a. how to make money.
b. choices in a world of scarcity.
c. how to distribute unlimited production among limited wants.
d. All of the above.
b. choices in a world of scarcity.
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List the five approaches used to solve the problem of externalities
What will be an ideal response?
The aggregate demand curve shows the relationship between the ________ and ________
A) price level; quantity of real GDP demanded B) real interest rate: quantity of real GDP supplied C) nominal interest rate; quantity of real GDP demanded D) inflation rate; quantity of real GDP demanded
A(n) __________ in consumer spending will __________ the demand for reserves, resulting in a __________ federal funds rate
A) increase; raise; lower B) increase; raise; higher C) decrease; raise; higher D) decrease; lower; higher
The movement left from MD1 to MD3 happened because of a(n) ______ in price level and/or a(n) ______ in RGDP.
a. increase; increase
b. decrease; increase
c. increase; decrease
d. decrease; decrease