The ground rules, customs, and conventions that govern the behavior of market participants are known as ________
Fill in the blank(s) with correct word
institutions
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Investment spending is
A. inversely related to real disposable income. B. directly related to the interest rate. C. inversely related to the interest rate. D. directly related to real disposable income.
All of the following are cited as factors in explaining U.S. competitiveness EXCEPT
A. reducing the federal deficit. B. economic restructuring. C. large investments in scientific research. D. widespread entrepreneurship.
The average number of times per year that a dollar bill is used to pay for final goods and services is the:
A. Monetary rule B. Velocity of money C. Asset demand for money D. Transactions demand for money
Related to the Economics in Practice on p. 666: When a country opens its markets to free trade, competition ________ and efficiency ________.
A. decreases; improves B. grows; declines C. grows; improves D. decreases; declines