Water supply problems are widespread, indicating that
a. water markets can seldom work, because water Is a necessity.
b. property rights are frequently incomplete and not fully tradable.
c. water is too important to ration by price.
d. water markets are seldom controlled by government.
B
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Which of the following will result in the money market when the price level in an economy rises, while the supply of money remains unchanged? a. The demand for money will decrease
b. The supply of money will increase. c. The rate of interest will decrease. d. The total investment spending in the economy will increase. e. The rate of interest will increase.
Which of the following is the best example of an intermediate good?
a. a tire purchased by an auto company b. a new house purchased by a newly married couple c. grain sold to foreign farmers d. All of the above are intermediate goods.
When a firm experiences economies of scale, long-run average total cost falls as the quantity of output increases
a. True b. False Indicate whether the statement is true or false
Which of the following statements is most correct?
A. The discount rate is the primary policy tool of the FOMC. B. The difference between the target and actual federal funds rate is the dealer's spread. C. The FOMC sets the target federal funds rate range. D. The FOMC sets the federal funds rate.