In the United States, which institution is primarily responsible for supervising banks?
a. Federal Reserve
b. Office of the Comptroller of the Currency
c. National Credit Union Administration
d. Federal Deposit Insurance Corporation
b. Office of the Comptroller of the Currency
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Which statement is consistent with the economic way of thinking?
A) Politicians seek to advance their own interests. B) Politicians are not only concerned with money and material goods. C) Politicians do not necessarily pursue narrow or selfish goals. D) All of the above. E) None of the above.
Information in a firm's financial statements
A) assists investors who are considering buying the firm's stock. B) helps the firm's managers make decisions. C) guide resource allocation in the economy. D) all of the above
Refer to Figure 5-5. Suppose the current market equilibrium output of Q1 is not the economically efficient output because of an externality. The economically efficient output is Q2. In that case, diagram shows
A) the effect of an excess demand in a market. B) the effect of a subsidy granted to producers of a good. C) the effect of a positive externality in the consumption of a good. D) the effect of a negative externality in the consumption of a good.
Adam Smith's invisible hand is now called
A. Opportunity cost. B. Laissez faire. C. The market mechanism. D. Economic growth.