In the United States, the idea that the federal government should undertake actions to stabilize business activity
A. has been around since the early 1700s.
B. was established in the Declaration of Independence.
C. is a relatively new idea that developed in the years during and after the Great Depression.
D. developed during World War I.
Answer: C
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Refer to the table above. After applying the second bag of fertilizer, the farmer experienced
A) constant returns. B) diminishing returns. C) increasing returns. D) negative returns.
The opportunity cost of current consumption differs for borrowers and savers only if the interest rate for savers differs from the interest rate for borrowers.
Answer the following statement true (T) or false (F)
As a unit of account, money is used to
A) state prices of all goods and services. B) pay off future debts. C) hold purchasing power over time. D) exchange for goods and services.
An indirect effect of monetary policy is that as the money supply
A. decreases, interest rates fall, and borrowing and spending increase. B. decreases, interest rates rise, and borrowing and spending increase. C. increases, interest rates fall, and borrowing and spending increase. D. increases, interest rates rise, and borrowing and spending decrease.