Which of the following statements about markets is correct? I. A market helps resources move to their highest-valued uses by means of prices changes. II. A market represents the exchanges of both buyers and sellers
A) I only
B) II only
C) Both I and II
D) Neither I nor II
C
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Refer to Scenario 5.4. What is the deviation of outcome A?
A) 30 B) 50 C) 75 D) 100
In a simplified banking system subject to a 25 percent required reserve ratio, a $1,000 open-market purchase by the Fed would cause the money supply to:
A. increase by $1,000. B. decrease by $1,000. C. decrease by $4,000. D. increase by $4,000.
The term "growing income inequality" implies that the:
A. poor are getting poorer in both a relative and an absolute sense. B. Lorenz curve is shifting toward the diagonal. C. diagonal is shifting toward the Lorenz curve. D. upper quintiles of income receivers are getting relatively more of the total income than
Refer to the information provided in Table 2.2 below to answer the following question(s).Table 2.2?MollyPeteAvatar Design68Tattoo Design32Refer to Table 2.2. For Molly, the opportunity cost of designing four tattoos is ________ avatar designs.
A. 6 B. 8 C. 12 D. 24