The amount of a particular good or service that buyers in a market will purchase at a given price during a specified period is called:
A. quantity demanded.
B. supply.
C. demand.
D. quantity supplied.
Answer: A
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Until the 1980s, most of the national debt was
A. owned by foreigners. B. acquired either during wars, especially World War II, or during recessions. C. owned by banks. D. financed by printing money.
The operation of the total economy can best be demonstrated by a
a. merry-go-round. b. circular flow. c. Ferris wheel. d. roller coaster.
Do economists know the value of the MPC for most economies?
a. Yes, with a high level of precision. b. Yes, with a certainty level of four decimal places. c. No, it is impossible to determine a national MPC. d. Yes, but with some level of uncertainty.
People might withdraw money from interest-bearing accounts,
a. making the interest rate fall, if there is a surplus in the money market. b. making the interest rate rise, if there is a surplus in the money market. c. making the interest rate fall, if there is a shortage in the money market. d. making the interest rate rise, if there is a shortage in the money market.