One disadvantage of the gold standard was that no nation had control of its domestic monetary policies.
Answer the following statement true (T) or false (F)
True
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Refer to Figure 18.1. The opportunity cost of bicycles in Canada is
A) 1/2 of a hang glider. B) 2/3 of a hang glider. C) 2 hang gliders. D) 4 hang gliders.
Which of the following statements regarding the distribution of money income is most correct?
A. The distribution of money income is synonymous with the distribution of goods and services. B. The distribution of money income overstates the extent of poverty in the United States. C. The distribution of money income includes the monetary value of in-kind benefits. D. Statistics on the distribution of money income include the underground economy.
If the economy is in short-run disequilibrium, an economist following classical theory would advocate that the Federal Reserve make appropriate changes in the:
a. federal funds rate. b. reserve requirement. c. none of these choices. d. money supply.
Duane owns his own real estate company. The Bureau of Labor Statistics counts Duane as
a. unemployed and in the labor force. b. unemployed and not in the labor force. c. employed and in the labor force. d. employed and not in the labor force.