If you watch a pay-per-view movie on a cable TV, the movie is:
A. an excludable good/service but nonrival in consumption.
B. an excludable good/service and rival in consumption.
C. a non-excludable good/service but rival in consumption.
D. a non-excludable good/service and nonrival.
Answer: A
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When checks are exchanged between banks, the Fed oversees the banks to ensure the appropriate funds have been transferred. This is known as
A) check kiting. B) check floating. C) check balancing. D) check clearing.
A consumer has maximized his or her utility by consuming
A) at the midpoint of the budget constraint line. B) at the midpoint of the demand curve. C) so that the total utility of all goods consumed is the same. D) so that the ratio of marginal utility to price is the same for all goods consumed.
What is the yield to maturity on a simple loan that requires payment of $500 plus $30 in interest one year from now?
A) 6% B) 6.38% C) 5.3% D) Not enough information has been provided to determine the answer.
The Fed's eclecticism reflects:
A. A combination of flexible rules and limited discretion. B. Fixed rules that are set for monetary growth rates. C. Discretionary policy but not rules. D. The targeting of interest rates as the primary goal to be achieved by monetary policy.