#Examify | #OnlineExams | #TestPrep | #StudyResources | #AcademicSuccess | #ExamPreparation | #QuizTime | #LearningTools | #Education | #StudentSupport

Every economy must answer each of the following questions except one. Which is the exception? a) Which goods will be produced? b) Why are these particular goods produced? c) Which resources should be used? d) Who will actually consume the goods produced? e) How should resources be combined to produce each product?  b) Why are these particular goods produced? One disadvantage of a sole proprietorship as a form of business organization is that __ a) sole proprietorships cannot lower t...

Ecology  The scientific study of how organisms react with each other and their environment. Ecosystem  a group of clearly distinguished organisms reacting with their environment as a unit. Biosphere.  the part of the planet containing living organisms. Extends from bottom of ocean to upper atmosphere. Habitat  The part of an ecosystem where an organism lives. Population  all the members of the same species living in an area. Community  all the different populati...

What is the typical relationship between interest rates on 6-month Treasury bills, 10-year Treasury notes, and Baa corporate bonds?  tend to move together over time with the corporate bond having the highest rate of interest  Your answer is correct. When interest rates decrease, how might businesses and consumers change their economic behavior?  will be more consumption spending on interest-sensitive items and more investment by businesses. How does a fall in the value of th...

Identify which item is not apart of the six parts of the financial system  Credit cards The central bank of the United States is  Federal Reserve System Identify which of the following is not one of the five core principles of money and banking  Stability creates risk Investing in financial instruments in today's economy  Is made easier by the use of mutual funds Which of the following is an example of a financial market?  A local coffee house where people regularly bu...

If currency held by the public equals $100 billion, reserves held by banks equal $50 billion, and bank deposits equal $500 billion, then the money supply equals: A. 150 billion B. 650 Billion  A In a system with fractional-reserve banking: A. All banks must hold reserves equal to a fraction of their loans B. All banks must hold reserves equal to a fraction of their deposits  B In a 100% reserve banking system, if a customer deposits $100 currency into a bank, then the money su...

The quantity theory of money is a theory of how: a. the money supply is determined b. the real value of aggregate income is determined c. interest rates are determined d. the nominal value of aggregate income is determined  the nominal value of aggregate income is determined The average number of times that a dollar is spent in buying the total amount of final goods and services produced during a given time period is known as: a. velocity b. spending multiplier c. gross national p...

In the model of fiat money developed in Lecture 7, the demand for money is the demand to hold ________.  Irredeemable Paper Bank Notes. In the model of fiat money developed in Lecture 7, the supply of money is just the total stock issued by the central bank because fiat monies _________.  have no non-monetary uses. Unlike the gold standard, there is _______ mechanism to govern the supply of money in a fiat money regime.  no automatic How a central bank conducts monetary poli...

Which of the follow would lead to higher price Elasticity of demand?  More substitutes for the goods. If the price elasticity of demand for ketchup is 0.50, then the price elasticity of demand for ______ is likely to be ______  Brand A ketchup ,higher. At a price of $8.00. quantity supplied is 100 units. At a price of $9.00, quantity supplied is 126 units. Price elasticity of supply for the good is approximately_______  1.96 If the supply curve of a good is perfectly elastic, ...

the field of macroeconomics developed when economists looked for causes of:  the Great Depression Most economists who have studied it believe that the Great Depression was caused by:  Poor economic policy making the degree to which people have access to goods and services that make their lives easier, healthier, safer, and more enjoyable is called the:  standard of living If total output increases from $1 trillion to $2 trillion as population increases from 100 million to 200 ...