The most basic concept of economics is
A) self-interest.
B) scarcity.
C) demand.
D) rationality.
B
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The data in the table above are the U.S. balance of payments. The capital and financial account balance is
A) $0. B) -$80 billion. C) -$200 billion. D) +$200 billion.
When the central bank of a country sells government bonds, _____
a. money flows from individual banks to the central bank, thus increasing the money supply in the economy b. money flows from the central bank to individual banks, thus reducing the money supply in the economy c. money flows from individual banks to the central bank, thus reducing the money supply in the economy d. money flows from the central bank to individual banks, thus increasing the money supply in the economy
How has macro-policy changed since the 1970s? How have the views of economists on the trade-off between inflation and unemployment changed?
Sellers of a good bear the larger share of the tax burden when a tax is placed on a product for which the (i) supply is more elastic than the demand. (ii) demand in more elastic than the supply. (iii) tax is placed on the sellers of the product. (iv) tax is placed on the buyers of the product
a. (i) only b. (ii) only c. (i) and (iv) only d. (ii) and (iii) only