When an oligopoly cuts its price to try and attract customers from rivals, it could lead to a price war
a. True
b. False
Indicate whether the statement is true or false
True
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Utility is:
A) a measure of income. B) a measure of savings. C) a measure of satisfaction. D) a measure of expenditure.
Suppose you find $1000 in your attic and decide to deposit it all into your local bank, which must hold 20% as required reserves. The deposit expansion multiplier suggests that this $1,000 "injection" of new money will most likely
A) increase the money supply by a little more than $1,000. B) increase the money supply by a little less than $1,000. C) increase the money supply by only $1,000. D) increase the money supply by $5,000.
Which of the following is not considered an economic resource?
A. Cash B. These are all examples of a resource. C. Real estate D. A personal relationship
Of the following, the largest source of revenue for the federal government is the
A) personal income tax. B) transfers from state and local governments. C) corporation income tax. D) lottery. E) revenue from the sale of public lands.