At the broadest level, the financial system moves the economy's scarce resources from
a. the rich to the poor.
b. financial institutions to business firms and government.
c. households to financial institutions.
d. savers to borrowers.
d
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In a market economy, who decides what goods and services will be produced?
A) only the producers B) consumers and producers C) the government D) only consumers
The above figure shows the market for rice in Japan. S2 represents the domestic supply curve, and S1 represents the world supply curve. A $1 per unit tariff has the same effect on producer and consumer surplus as a quota of
A) 10 units. B) 20 units. C) 30 units. D) 40 units.
The outcome of the game in the figure show predicts that Nike will earn profits of:
A. $2 million.
B. $4 million.
C. $10 million.
D. $15 million.
Suppose you buy a new Tesla Model S. The battery that comes with the car is a(n)
A. intermediate good. B. financial good. C. final good. D. transfer good.