The aggregate demand curve shows that at higher price levels the total quantity of output demanded is greater.
Answer the following statement true (T) or false (F)
False
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Robbery reduces economic efficiency by
a. creating voluntary exchanges b. decreasing government spending c. increasing unemployment d. creating involuntary exchanges e. lowering the number of potential Pareto improvements
Which of the following is not an explanation of why the Gramm-Rudman-Hollings Act proved inadequate in reducing the deficit?
A. The Supreme Court declared the automatic mechanism for budget cuts unconstitutional. B. Congress controls only the cyclical portion of government spending. C. Congress wasn't willing to cut spending enough. D. Congress wasn't willing to increase taxes enough.
Matt deposits $150,000 into his bank, which has a required reserve ratio of 15 percent. Matt’s bank must keep ______ of this new deposit in its reserves.
a. $10,000 b. $127,500 c. $150,000 d. $22,500
Which of the following is the reason why every society needs to develop an economic system?