The term market always refers to
a. an arrangement in which an auctioneer plays at least a limited role in setting prices.
b. an arrangement in which buyers and sellers meet at a specific time and place.
c. a group of buyers and sellers of a particular good or service.
d. a single buyer and seller of a particular good or service.
The answer is c. a group of buyers and sellers of a particular good or service.
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According to the text, there are three ways the government can help increase the accumulation of knowledge capital. What are they?
A) encouraging the use of trade secrets, expanding student loan programs, and increasing the minimum wage B) reducing taxes on capital, increasing Social Security payments, and lowering the exchange rate C) increasing taxes on firms, eliminating patents, and increasing the minimum wage D) protecting intellectual property rights, subsidizing research and development, and subsidizing education
Some universities now offer "tuition bonds." Parents can purchase a bond at the time their child is born. The bond is redeemable in 18 years for an amount of money equal to the cost of the university's tuition at that time
Which of the following would reduce the market price of these bonds? A) An increase in the rate of interest B) A decrease in the rate of interest C) The passage of legislation limiting increases in college tuition to the rate of inflation D) both A and C E) both B and C
"Crowding out" investment in supply side economics refers to a situation in which groups of investors compete with each other, thereby driving up interest rates
Indicate whether the statement is true or false
Within corporations, there are ________ systems that motivate individuals and teams to make the most efficient decisions on products sales.
A. automatic administrative B. no automatic administrative C. no automatic market-driven D. automatic market-driven