Name a country mentioned in class that today is experiencing hyperinflation
a. Germany
b. China
c. Venezuela
d. Honduras
Ans: c. Venezuela
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Use the following diagram to answer the next question.
We observe that the economy has moved from NX1 to NX3. This could have happened because ________.
A. imports decreased B. exports increased by more than imports C. exports increased by less than imports D. exports increased
Why does the money supply increase when the Fed buys a bond but does not change when a business buys a bond?
What will be an ideal response?
The idea of comparative advantage is related to
A) the idea of opportunity cost. B) the idea of absolute advantage. C) using the worker with the most diverse sets of skills. D) engineering efficiency.
Imagine you own a machine that produces perfectly authentic and legal $100 bills. You would use this machine until:
a. the bills became worthless. b. the total cost began to fall. c. the marginal cost was $100. d. the variable cost began to rise. e. the marginal revenue began to fall.