In the US economy, the money supply is controlled by the

Which statement best describes the difference between a market economy and a command economy?

A worker who loses a job as a cashier at a store because consumers and business firms switch to shopping at Amazon is an example of:

Which of the following scenarios is an example of a market failure?

The Prime Minister of Richlandia hires you as an economic consultant. He is concerned that the output level in Richlandia is too low and that this will cause unemployment to rise. Which of the following would be the best advice to give to the Richlandian Prime Minister?

Which of the following will cause a rightward shift in the demand curve for widgets which are normal goods used in the tech industry?

Which of the following actions by the Fed would cause interest rates to fall?

As an economist with the World Bank you have been asked to measure the Gross Domestic Product for the US for 2019. You are told that the private consumption, gross domestic investment, government purchases and exports all add up to $ 24 trillion. You later learn that imports to the US in 2019 were $4 trillion. To get GDP, you should

Which of the following is false regarding US trade

Which of the following illustrates the concept of external costs

Which of the following statements is true?

In 2019 the Federal Government had a revenue of $ 3.4 trillion and the spending was equal to $ 4.5 trillion. This means:

In the hypothetical economy of Hypothetica, if there was a decrease in investment spending of $ 10 billion and the marginal propensity to save is 0.25, then real GDP would

Mary won $ 20,000 in the lottery and she deposited this money in her savings account. As a result of the deposit:

In the market for Widgets, the equilibrium price is $ 20 and the equilibrium quantity is 5000 Widgets, which of the following statements is false

Which of the following would not count as part of US GDP in 2019?

Assume the economy of Scoob can produce 5 tons of rice or 15 tons of wheat and a second economy Widgland can produce 10 tons of rice or 20 tons of wheat. Which of the following is FALSE?

Which of the following changes will NOT shift the US production possibility curve to the right?

In year 1 nominal GDP is $ 20 trillion and in year 2 nominal GDP is $ 24 trillion. What was the growth rate of nominal GDP between year 1 and 2?

The economy of Zercistan has just experienced a recession and the government has decided to institute a tax cut to boost spending and revamp the economy. However, it takes 4 weeks for the tax cut bill to go through congress. The time it takes to pass the bill is an example of:

Congress finances a budgetary deficit by:

When calculating GDP which of the following is an example of a final good or service

Which of the following actions by the Fed would be intended to fight recession:

Natural resources such as animals and minerals are included in the factor of production known as:

Use the Aggregate Demand/Aggregate Supply model to determine which of the following would happen if interest rates went down.

What is the Federal Funds Rate?

Which of the following is NOT characteristic of monetary policy?

Which of the following statements is true?

Which of the following is NOT an illustration of the notion of opportunity cost?

Jennifer buys a piece of costume jewelry for $ 33 for which she was willing to pay $ 42. The minimum acceptable price to the seller, Nathan, was $ 30. Jennifer experiences

The most fundamental economic problem is