All economic questions arise because we
A) want more than we can get.
B) want more than we need.
C) have an abundance of resources.
D) have limited wants that need to be satisfied.
A
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In 1865, Congress raised the tax on state bank notes to 10 percent of the value of notes in circulation. Quantitative evidence shows that by 1900,
a. state banks had ceased to exist. b. the number of state banks had declined dramatically. c. the number of state banks had increased dramatically. d. the number of state banks was roughly the same as in 1865.
A primary emphasis of the Keynesian school is the economy:
a. has a tendency to always create a full-employment level of output. b. has a tendency to always create inflationary pressure at all levels of output. c. has a tendency to eliminate unemployment by lowering wage rates to create an equilibrium in the labor market. d. is driven by the supply-side of the market. e. has a tendency to be in equilibrium at less than full employment.