How do banks create money out of thin air? a. They can not create money out of t

Question

How do banks create money out of thin air?



a. They can not create money out of thin air

b. They print more

c. They borrow money

d. They make loans


What argument does Bastiat make in the Negative Railroad?



a. Job creation is more important than wealth creation

b. Producers are more important than consumers

c. Import restrictions diminish wealth

d. Railroads create jobs



In Censoring Pleas for Help, Dwight Lee argues that prices are important because



a. They are a form of communication

b. Suppliers will provide more at higher prices

c. Buyers will conserve at higher prices

d. All of the above



Why is the world not about to run out of oil?



a. Prices will adjust and provide incentives to find more oil and alternative fuels

b. Demand for oil is falling

c. Alternative fuels are readily available

d. There is plenty of oil in the Arctic National Wildlife Refuge (ANWR)

Explanation / Answer

1. "d. They make loans" 2. "c. Import restrictions diminish wealth" 3. "d. All of the above" 4. "a. Prices will adjust and provide incentives to find more oil and alternative fuels"

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