Government efforts to use taxes and government spending to help stabilize the economy are called ______.

If Tom spends 4 hours a day on Facebook and the minimum wage in his country is $7 per hour, what is his opportunity cost of spending time on Facebook? Given that spending time on Facebook has an opportunity cost, does this analysis suggest that Tom

should work rather than spending his time on social networking?

The purchase of $1 million of Treasury securities by the Federal Reserve, if there is no change in the quantity of currency, will cause reserves at banks to

A) increase by $1 million. B) decrease by less than $1 million. C) decrease by $1 million. D) increase by less than $1 million.