What are the three basic economic decisions each household must make?
What will be an ideal response?
(1.) How much of each product to demand.
(2.) How much labor to supply.
(3.) How much to spend today and how much to save for the future.
Economics
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If the Fed is worried about inflation and wants to raise the interest rate, in the short run it can
A) increase the demand for money. B) decrease the demand for money. C) increase the quantity of money. D) decrease the quantity of money. E) directly raise the interest rate without affecting either the demand for money or the supply of money.
Economics
Refer to Scenario 5.8. Given that the two outcomes are equally likely, Icarus Airlines' expected profit under complete information would be
A) $40 million. B) $90 million. C) $115 million. D) $120 million. E) $125 million.
Economics