Which of the following is NOT a voluntary exchange?
A. Jason pays $20,000 for tuition and fees this semester.
B. Jose loses his smartphone on the way home.
C. Emily buys a $500 plane ticket to fly from Miami to Dallas on short notice.
D. Marie buys groceries.
Answer: B
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The policy tool of "credit easing" refers to the
A) Fed's purchase of private securities to stimulate banks' lending. B) Fed's requirement that the federal government must lend to directly to home buyers. C) federal government's requirement that the Fed must lend directly to home buyers. D) Fed's lowering of the federal funds rate to zero. E) Treasury's issuance of federal debt to finance home buying.
When property rights are assigned and transactions costs are low,
A) all costs and benefits are taken into account by the transacting parties so the transaction is efficient. B) externalities will result in market failure. C) the marginal social benefit curve shifts leftward and the marginal social cost curve does not shift. D) the marginal social cost curve shifts rightward and the marginal social benefit curve does not shift. E) the marginal social cost curve shifts rightward and the marginal social benefit curve also shifts rightward.
Which of the following was NOT a function of the First and Second Banks of the United States?
(a) Handling government finances (b) Promoting growth of state banks (c) Helping establish uniform paper currency in the U.S. (d) Keeping state banks in line by presenting their notes
Using the information in the table shown, the marginal revenue of the 6th unit is:
This table represents the revenues faced by a monopolist.
A. $0
B. $200
C. $3,000.
D. $500.