Which of the following most clearly distinguishes government from a private business?
a. production of goods and services-private businesses produce things; governments do not
b. the power to tax
c. the hiring of law enforcement employees to protect property rights
d. selfishness-the owners and managers of private businesses are selfish; government officials are not
B
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Which of the following might be an intermediate good?
A) A box of Kellogg's corn flakes B) An iMac computer C) A U-Haul rental vehicle D) An economics textbook E) Any of the above might be, depending upon who is purchasing it.
If disposable income increases, people will decide to ________ saving, the supply of loanable funds will ________ and the real interest rate will ________
A) increase; decrease; rise B) decrease; decrease; rise C) increase; increase; fall D) decrease; increase; fall
A fixed exchange rate system where central banks buy and sell gold to keep exchange rates at a given level is called the:
A) fixed standard. B) flexible standard. C) fiat standard. D) gold standard.
How do the Fed's monetary policy actions influence the exchange rate?
What will be an ideal response?