Mindblown: a blog about philosophy.

Which of the following statements is true? a) A savings deposit is not counted in the most basic or narrow definition of the money supply. b) M1 is sometimes referred to as transactions money. c) Money reduces the transaction costs of making exchanges. d) b and c. e) a, b, and c. Answer: e) a,…

Which of the following is an example of a land resource? a. cow b. factory c. employee d. tractor e. none of the above Answer: e. none of the above Natural resources specifically, refer to resources that are found within the surface of the earth and include the physical features of the earth such as…

During which time period did economies begin to develop globally? a. The Industrial Revolution b. The Post-Industrial Revolution c. The Information Age d. The Agricultural Revolution Answer: a. The Industrial Revolution The Industrial Revolution which started in the late 18th century and stretched through the early 19th century revolutionized the economies all over the world…

Which of the following is not a function of synovial fluid? A. shock absorption B. increases osmotic pressure within joint C. lubrication D. provides nutrients E. provides articular cartilages Answer: B. increases osmotic pressure within joint The synovial fluid is a thick, milky liquid that fills the spaces between the bones of the synovial joints…

Question:- The Glorious Revolution of 1688 demonstrated that parliament had Answer: This revolution aimed at overthrowing the British Monarchy and was called the ‘Glorious Revolution of 1688’ The Catholics accused the Protestants of high treason and hence the ruling party the parliament took the throne away from James and bestowed it on his successors William…

Which of the following is not a characteristic of a competitive market? (a) Buyers and sellers are price takers (b) Each firm sells a virtually identical product (c) Free entry is limited (d) Each firm chooses an output level that maximizes profits. Answer: (c) Free entry is limited Another condition is the freedom of entry…

A car dealer who does not have enough customers for a supply of new cars faces: A) equilibrium. B) disequilibrium. C) coordination. D) excess demand. Answer: B) disequilibrium. Market equilibrium can be defined as a situation within the market where the quantity that is supplied is equal to the quantity that is demanded in that…

A(n) _____ policy is employed when the government chooses to run a larger deficit. a. contractionary b. proportional c. monetary d. expansionary Answer: d. expansionary An expansionary policy is used in a situation whereby the government opts to borrow more money or spend than what it receives. An expansionary fiscal policy is a situation whereby…

Question:- Resources used to produce goods and services are called factors of production. Identify and explain any five factors of production. Answer The five main factors of production are: Land: This consists of the input resources which are from the natural resources involving land, water, minerals, and other raw materials utilized in the manufacturing process.…

Which of the following best describes the Flynn Effect? a) Assuming that what we see is representative of a larger category we have in our mind. b) The observation that raw IQ scores have been rising since 1932. c) Searching only for information that supports our hypothesis. d) The observation that the mean standardized IQ…