Adam Smith
a. is considered the founder of modern economics
b. wrote An Inquiry into the Nature and Causes of the Wealth of Nations
c. did not believe the wealth of nations came from an accumulation of gold and silver.
d. All of the above
d
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Over the past seventy-five years, power within the Federal Reserve has shifted from
A) the Federal Reserve Banks to the Board of Governors in Washington. B) the Board of Governors to the Federal Reserve Bank of New York. C) domestic Federal Reserve banks to foreign Federal Reserve banks. D) the Federal Reserve Bank of New York to the Federal Reserve Bank of Dallas.
Which function of money allows for comparison shopping?
A) medium of exchange B) unit of accounting C) store of value D) standard of deferred payment
Harry's employer offers a "Holiday Account," which means they will take $50 a month out of Harry's paycheck and deposit it into this account throughout the year. In December, they give Harry the money in the account to spend during the holidays. Harry regularly carries about $200 of credit card debt each month. Harry's decision to set aside some of his money in this account is an example of:
A. ignoring the fungibility of money. B. recognizing that money is fungible. C. needing to categorize expenditures to make rational decisions about money. D. being rational.
In the distribution of corporate profits, which of the following groups has first preference?
a. common stockholders b. preferred stockholders c. board of directors d. bond holders e. convertible stock holders