Which word comes from the Greek world for "one who manages a household"?
a) market
b) consumer
c) producer
d) economy
Ans: d) economy
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All of the following lead to more rapid economic growth EXCEPT
A) restricting international trade. B) encouraging higher rates of saving. C) supporting more research and development. D) encouraging higher quality education.
The key assumption underlying the theory of the firm is that:
A) firms are assumed to maximize sales revenue. B) managers are assumed to maximize the number of employees in their department. C) firms are assumed to maximize profits. D) none of the above
Central banks can increase the money supply by:
a. Increasing the discount rate. b. Buying government securities. c. Selling foreign exchange. d. All of the above. e. None of the above.
Cost-of-living adjustments
A. Maintain constant real interest rates. B. Cause individuals to shorten their time horizons. C. Reduce the price effect of inflation. D. Allow individuals to maintain their purchasing power during inflation.