You need a new computer, and you will need a loan in order to buy one. Which lender is most likely to charge you the highest interest rate on your loan?
(A) Savings bank
(B) Savings and loan association
(C) Credit union
(D) Finance company
Ans: (D) Finance company
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The largest portion of discretionary spending is devoted to
A) foreign aid. B) national defense. C) paying federal employees. D) the space program.
Household savings rates:
A. were negative in China in 2014. B. were 49% in China in 2014. C. were fairly constant at about 8% in China from 2000 to 2010. D. have been roughly 10% for the last 30 years or so in China.
Firms in perfectly competitive markets who wish to maximize profits should produce:
A. less as long as marginal cost is less than marginal revenue. B. more as long as marginal cost is greater than marginal revenue. C. at the level where marginal cost equals marginal revenue. D. All of these are true.
Relate the term scarcity to the action(s) it causes.
A. Scarcity causes developed nations to have more material goods than developing nations. B. Scarcity causes fewer technological advances. C. Scarcity forces people to want more material goods. D. Scarcity forces everyone to make choices.