Fractional reserve banking began
A) in ancient Greece. B) in the early nineteenth century.
C) in the early twentieth century. D) in the Middle Ages.
A
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Along any single indifference curve the ________
A) consumer is equally satisfied with any of the combinations of goods B) level of current income is unchanged C) level of future income is unchanged D) level of current and future income is unchanged
The _____________ program of President Lyndon Johnson was designed to lift people out of poverty.
Fill in the blank(s) with the appropriate word(s).
To avoid double counting when GDP is estimated, economists: # randomize
[A]. Use GDP deflator [B]. Calculate value added at each stage of production [C]. Use retail prices [D]. Use price only intermediate goods
Suppose Frank likes to snack on sugary candy. Frank knows that it's bad for his teeth to eat sugary candy, but he doesn't care. Frank's snacking habits have no impact on anyone other than Frank. In this case, Frank's consumption of sugary candy generates:
A. a positive externality. B. a negative externality. C. neither a positive nor a negative externality. D. both a positive and a negative externality.