When you pay for a new CD with a debit card, you authorize the transfer of money from your account to the music store's account. In other words, a payment by debit card is the electronic form of a payment by _____.
(A) Money order
(B) Check
(C) Cashier's check
(D) Credit card
Ans: (B) Check
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As the circular flow model shows, the factors of production flow from
A) households to firms through the factor market. B) firms to households through the goods market. C) the goods market through firms to the factor markets. D) households to firms through the goods market. E) firms to households through the factor market.
Would the services supplied by prostitutes and brothels be included in calculating GDP in the United States?
A) Yes, because those are final services. B) Yes, but only in those states where brothels are legal. C) No, because those services are immoral. D) No, because those are not truly economic services.
One of the difficulties of the government privatizing a common resource is:
A. figuring out who owns what when many are using the resource. B. deciding which individuals will have to decrease their consumption. C. compounded the more users there are. D. All of these statements are true.
During the 1970s, the inflation rate and the unemployment rate were inversely related
a. True b. False Indicate whether the statement is true or false