Which of the following is a correct characterization of socialism?
A. Tradition answers the basic economic questions.
B. Markets are used exclusively to answer the basic economic questions.
C. Central planning is seldom used to answer the basic economic questions.
D. Government ownership of many resources and centralized decision-making answers the basic economic questions.
Answer: D
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If the total assets of a bank equals $50,000 and the total liabilities of the bank equal $20,000, stockholders' equity will equal:
A) $50,000. B) $70,000. C) $30,000. D) $20,000.
If the real interest rate falls, other things being the same, the quantity of loanable funds demanded ________ and the quantity of loanable funds supplied ________
A) does not change; decreases B) increases; increases C) increases; decreases D) decreases; does not change E) decreases; decreases
Explain whether each of the following variables is a lagging, leading, or coincident indicator: In each case, is the economy likely in a recession, heading for a recession, in an expansion, or heading for an expansion?
a. Industrial production is falling. b. The number of building permits issued for new private housing units begins to decline. c. The number and amount of commercial and industrial loans start to rise. d. The average prime interest rate charged by banks begins to fall. e. The M2 money supply begins to rise.
An article about how coffee boosts critical thinking is likely to affect which determinant of demand?
A. Incomes B. Preferences C. Number of sellers in the market D. Price