The concept of economic rent is associated with the economist
A) Adam Smith.
B) Karl Marx.
C) David Ricardo.
D) John Maynard Keynes.
Answer: C
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By raising the discount rate, the Fed leads banks to make ______ loans to households and firms, which will _________ checking account deposits and the money supply
A. More; decrease B. Fewer; decrease C. Fewer; increase
Consider a society consisting of just a farmer and a tailor. The farmer has 30 units of food but no clothing. The tailor has 60 units of clothing but no food. Suppose each has the utility function U = F1/3C2/3
If the price of clothing is always $1, and the food price is currently $1, then we can conclude A) the market is at a competitive equilibrium. B) the price of food will drop towards a competitive equilibrium. C) the price of food will increase towards a competitive equilibrium. D) None of the above.