In the U.S., health care may be expensive, but Americans enjoy the longest life-expectancy of any nation
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following best describes the crowding-out effect?
What will be an ideal response?
Consider an island where people use sand dollars (shells) as currency. For simplicity, assume that people consume only one good: fish. Currently, there are 400 sand dollars in circulation and there are 200 fish purchased each year. Based on this information, what is the price of fish?Now, suppose that a change in climate leads to new sand dollars washing ashore, leaving a total of 500 sand dollars. If there are still 200 fish purchased each year, what is the new price of fish? In order to prevent inflation, what would have to happen to the amount of fish purchased each year?
What will be an ideal response?
The Fed relies on open-market operations, which work
A. with the Treasury in creating money to finance bonds. B. through major stock exchanges to influence bond prices. C. directly through the nonbank public to change their assets. D. through the banking system by affecting their reserves.
Ceteris paribus, if seasonal unemployment increases, the seasonally adjusted economy is
A. On the production possibilities curve that shifts inward. B. Outside the production possibilities curve. C. On the fixed production possibilities curve. D. Inside the production possibilities curve.