The law of demand indicates that as the price of a good increases:
a. suppliers sell less of it. b. suppliers sell more of it.
c. buyers buy less of it. d. buyers buy more of it.
c
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Explain the case for land reform in Latin America. Are there any potential negative effects? What steps could be taken to address these effects?
What will be an ideal response?
Which is NOT an example of moral hazard
a. people eat more at all-you-can-eat buffets b. loggers select the most profitable trees to harvest even when they are paying a fixed fee c. Drivers of heavier, safer cares are more likely to run stop signs d. workers on commission work harder than those paid an hourly wage
To determine real GDP, divide nominal GDP by the
a. current values of goods and services. b. final goods and services. c. GDP deflator. d. value of GDP.
Money as defined by M1 includes
a. coins. b. paper money. c. checking deposits. d. travelers' checks. e. All of the above are correct.