The supply curve has a :

The supply curve has a
 
  A) negative slope.
  B) positive slope.
  C) slope equal to -1.
  D) undefined slope.

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Ques. 2

The direct exchange of goods and services for other goods and services is known as
 
  A) barter.
  B) purchasing power.
  C) intermediation.
  D) wholesale trade.

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Ques. 3

The Fed engages in open market operations and sells government securities. The result is
 
  A) lower interest rates.
  B) higher interest rates.
  C) interest rates remain unchanged since there is no reason to think bond prices changed.
  D) uncertain since more information is needed.

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Ques. 4

All of the following are factors that raise economic development EXCEPT
 
  A) establishing a legal system.
  B) an educated work force.
  C) reducing trade barriers.
  D) government control of the country's resources.

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Ques. 5

Full employment means that
 
  A) everyone who wants a job has a job, although it may not be the job they really want.
  B) everyone who wants a job has a job, and they have the job they most prefer.
  C) taking seasonal fluctuations into account, only frictional and structural unemployment exist.
  D) the sum of structural and cyclical unemployment is greater than frictional unemployment.