Which of the following economists rejected the notion that economic growth was caused by the evolution of commercial society?
A) Adam Smith
B) Paul Heyne
C) Karl Marx
D) All of the above.
E) None of the above.
E
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Suppose you inherit the only spring of mineral water in an area and want to maximize profits from this costless product. You would ask your customers to bring their containers with them and:
a. charge them the highest price possible to sell some output. b. charge them the lowest price possible to sell as much as you can. c. ask them how much they would like to pay and accept it. d. charge the price at which MR is zero. e. charge the price at which MR is maximum.
The liquidity effect is the
A) increase in the interest rate brought on by an increase in GDP. B) increase in the interest rate due to a higher expected inflation rate. C) decrease in the interest rate due to an increase in the supply of loanable funds. D) response, in terms of rate of flow, of the money supply to a change in government spending. E) rate of change in the price level caused by a change in the supply of money.
A decrease in the capital gains tax on income made from new capital investment will:
A. shift the demand for investment curve to the right. B. shift the supply of saving curve to the left. C. shift the demand for investment curve to the left. D. shift the supply of saving curve to the right.
Which of the following compose the M2 money supply?
A. currency only B. currency, checkable deposits, and traveler's checks C. M1 plus large denomination time deposits and Eurodollar deposits D. M1 plus savings deposits and small-denomination time deposits