Economics can be described as the study of how people use ________ resources to satisfy ________ wants
A) unlimited; unlimited
B) unlimited; limited
C) limited; unlimited
D) limited; limited
C
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Refer to Table 1-1. What is Lydia's marginal cost if she decides to stay open for an extra two hours instead of one hour?
A) $10 B) $20 C) $25 D) $40
Stealth bank holds deposits of $200 million. It holds reserves of $15 million. It has purchased government bonds worth $75 million. The current value of its loans, if sold at market value, is $130 million. What is the value of the Stealth bank’s liabilities?
a. $20 million b. $200 million c. $5 million d. $330 million
One of the widely acknowledged problems with using the consumer price index as a measure of the cost of living is that the CPI
a. fails to measure all changes in the quality of goods. b. displays a housing bias. c. accounts for changes in prices of some goods, but prices of certain goods are assumed to remain constant. d. All of the above are correct.
The initial effect of the 2009 Obama Stimulus Plan upon the federal budget was to
A. eliminate the corporate income tax liabilities of major oil companies. B. increase the federal budget deficit by as much as $750 billion. C. eliminate all opportunities for "logrolling" in the Congress. D. all of the options are correct.