The government, concerned about the wealth redistribution problem caused by the inequality in debt holding among the rich and poor,
a. created low denomination (low priced) savings bonds
b. made special efforts to sell bonds to private citizens
c. made special efforts to sell bonds to the Federal Reserve
d. prohibited the sale of bonds to foreigners
e. created a proportional income tax on income derived from bonds
A
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The textbook defines a "well-organized" market as a market in which
A) all information available to sellers and buyers is also available to other parties to exchange transactions. B) bids and offers of buyers and sellers are brought together to establish a single price over a wide area. C) the government regulates maximum and minimum prices. D) the terms of exchange between buyers and sellers are controlled by a professional marketing association.
Potential solutions to sell a high-quality used car include
a. offering a warranty b. selling through a reputable dealer c. documenting the complete repair history d. all of the above
If the demand for a good is perfectly inelastic, then:
a. the value of price elasticity of demand of the good is equal to 1. b. the value of price elasticity of demand of the good is equal to -1. c. the demand curve of the good is nonexistent. d. consumers are very responsive to a change in the price of the good. e. quantity demanded does not change when price of the good changes.
The production possibilities curve marks the boundary between attainable and unattainable combinations of output
a. True b. False Indicate whether the statement is true or false