Which of the following is nearly synonymous with the economic concept of scarcity?
A) Freedom
B) Resources
C) Limits
D) Security
Answer: C) Limits
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For an intertemporal budget constraint concerning saving for retirement, the choice is between past and future___________________.
a. salary b. consumption c. health d. working units
The quantity theory of money and prices asserts that
A. increases in the money supply lead to a decrease in the velocity of money. B. increases in the money supply lead to an increase in the velocity of money. C. increases in the money supply lead to inflation. D. increases in the money supply will increase real GDP.
What can explain the failure of relative PPP to hold in reality?
What will be an ideal response?
The interest rate on loans made by banks in the market in which they lend and borrow reserves from each other for very short periods of time is known as the:
a. discount rate. b. legal reserve rate. c. federal funds rate. d. open market rate. e. margin rate.