Writer Thomas Friedman asserts that "America is the greatest engine of innovation that has ever existed and it can't be duplicated anytime soon, because"
A. of its extreme freedom of thought.
B. of its emphasis on independent thinking.
C. of its steady immigration of new minds.
D. of all of the factors listed.
D. of all of the factors listed.
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Explain the Fed's three tools of monetary policy and how each is used to change the money supply. Does each tool affect the monetary base or the money multiplier?
What will be an ideal response?
When the U.S. government runs a deficit, the resulting higher interest rate:
A. reduces firms' desire to invest, and "crowds out" domestic investment. B. increases firms' desire to invest, but "crowds out" domestic investment. C. reduces foreigners' willingness to invest in the U.S., but still "crowds out" domestic investment. D. increases foreigners' willingness to invest in the U.S., which "crowds out" domestic investment.
Suppose the government levies a corrective tax on firms that pollute in order to limit the quantity of pollution. Under this policy, does the demand curve for pollution rights determine the quantity of pollution, or does it determine the price of pollution?
A technological advance that increases the marginal product of labor shifts the labor- ________ curve to the ________.
a. demand, left b. supply, left c. demand, right d. supply, right