(03.02 LC)Which economist(s) thought that government should stay out of economic decisions no matter what, that the economy should be guided by the forces of supply and demand alone?

(02.05 LC)What is the definition of business revenue?

(03.06 MC)Imagine that a country withholds funding from any college or university that does not accept women applicants at the same rate as men. Which broad economic goal relates to this scenario?

(04.06 MC) Suppose the reserve requirement is 10% with no excess reserves held with banks. What will the change in money supply be if the central bank purchases bonds worth $500 million from banks?

(02.04 MC)Which product exists in a purely competitive market?

(02.01 LC)In a circular-flow diagram, which economic player sells goods and services to earn revenue?

(02.09 MC)A committee is working on a proposal for improving resident participation in the local recycling program. Which of the following tasks aligns with the rational decision-making model step “identify all potential solutions”?

(04.07 MC) Use the graph to answer the question that follows.Assume that the market for loanable funds is in equilibrium at the rate of interest shown at point ‘R’ and the quantity of loanable funds, ‘Q,’ as shown in the accompanying graph. If there is an increase in productivity due to technological innovation, then what impact will this have on the demand for loanable funds, ceteris paribus?

(03.01 MC)Imagine the Federal Reserve Board makes credit more available within the U.S. financial system by loaning money to banks. Which phase of the business cycle is the Fed trying to encourage?

(03.06 LC)Which term describes a country struggling to grow and needing support from its trade partners?