A bank with insufficient reserves can increase its reserves by
A) lending federal funds.
B) calling in loans.
C) buying short-term Treasury securities.
D) buying municipal bonds.
B
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At the current quantity of pizza, the marginal social benefit is greater than the marginal social cost. Then
A) the number of pizzas produced is efficient. B) more pizzas must be produced to reach the efficient level. C) fewer pizzas must be produced to reach the efficient level. D) revenue for pizza producers is maximized.
Why does popular democracy, as defined in the U.S. Constitution, contribute to long-term economic growth and political stability?
(a) It allows regular change in the structure of the government. (b) It provides incentive to invest, innovate and invent. (c) It permits the President of the U.S. to choose fiscal policies to advance contemporary mercantilism. (d) It transfers wealth from the extremely wealthy to the desperately poor.
Mental or physical labor or help purchased by consumers is a(n)
A. durable consumer good. B. nondurable consumer good. C. service. D. investment.
The case for product differentiation includes the assertion that
A. it wastes society's scarce resources. B. even products that do not satisfy a real demand survive. C. standards of living rarely improve with product innovation. D. new products satisfy people with different preferences.