A person's utility schedule ____________ (can/cannot) change over time.
Fill in the blank(s) with the appropriate word(s).
can
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In which of the following markets do firms sell the same standardized product?
A. Four-door cars B. Desktop computers C. 2% milk D. Sandwiches
Macroeconomics differs from microeconomics in that macroeconomics focuses on:
A. individual choices and group behavior in individual markets. B. production in specific markets. C. the performance of national economies and ways to improve that performance. D. prices in specific markets.
In Figure 3-2, a point such as E
A. is not obtainable. B. is an efficient use of resources. C. represents an inefficient allocation of resources. D. indicates that the society is a capitalist society.
In the short run, if the Fed wants to raise the federal funds rate, it
A) instructs large commercial banks to sell government securities in the open market. B) instructs the New York Fed to buy government securities in the open market. C) instructs the New York Fed to sell government securities in the foreign exchange market. D) instructs the New York Fed to sell government securities in the open market. E) tells large commercial banks to raise their interest rates.