In the circular flow model, businesses
A. demand both products and resources.
B. supply both products and resources.
C. demand products and supply resources.
D. supply products and demand resources.
D. supply products and demand resources.
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All of the following are examples of state regulations on banks except:
a. the Suffolk System b. the Safety Fund System c. required bond deposits with a state authority prior to chartering d. the Forstall System
Imagine that personal preferences and advertising change and the demand curve shifts outward (to the right). How will this impact production?
A) It will have no impact on production. B) It will cause the quantity of output in production to increase. C) It will cause the quantity of output in production to decrease. D) It will cause technology, labor, and capital in production to increase.
An individual who is a risk lover
a. values a lottery at more than its expected value b. values a lottery at exactly its expected value c. values a lottery at less than its expected value d. tends to play lots of lotteries
Between 1960 and 2012, the share of federal spending allocated to national defense
a. declined sharply, while the share allocated to health care increased substantially. b. rose sharply, while the share allocated to health care declined substantially. c. was relatively constant, while the share allocated to health care declined modestly. d. declined modestly, while the share allocated to health care was relatively constant.