A factor that might have contributed to the weakening of the U.S. economy in 2007-2009 was
A. increases by the Federal Reserve in its target short-term interest rate.
B. the unexpected return to the gold standard.
C. rapid growth of the money stock.
D. rising levels of federal government spending.
Answer: A
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Bread and butter are complements. A decrease in the price of bread results in a(n)
a. decrease in the supply of break b. increase in the demand for butter c. increase in the demand for bread d. increase in resource prices e. violation of the law of demand
A price ceiling that sets the price of a good below market equilibrium will cause
a. an increase in quantity demanded of the good. b. a decrease in quantity supplied of the good. c. a shortage of the good. d. all of the above.
Recall the Application about the manufacture of fake killer whales used to scare sea lions off the Washington coast to answer the following question(s).Recall the Application. If a fake killer whale to be used to scare sea lions away from steelhead and other threatened and commercially valuable species cost $11,000 for the mold and $5,000 for materials for each fake killer whale made, then the average or per unit cost of producing five fake killer whales would be:
A. $5,000. B. $7,200. C. $11,000. D. $16,000.
Net national product equals
A. national income minus taxes on production and imports. B. gross national product minus depreciation. C. gross national product minus statistical discrepancy. D. national income plus depreciation.