Government spending that redistributes income from taxpayers to other groups in the society is
a. a transfer payment
b. a subsidy
c. a public good
d. a merit good
e. an equity good
A
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One goal of the European Common Market was to
a. abolish tariffs and import quotas among the member nations. b. abolish tariffs and import quotas between the member nations and the rest of the world. c. discourage the free movement of capital and labor among member nations. d. replace the North Atlantic Treaty Organization (NATO).
As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases. B. initially decreases, then increases. C. decreases. D. initially increases, then decreases.
When a firm purchases a part of its supplies from any one of a large number of potential suppliers at the current market price without long-term commitments, it is:
A. making a spot market purchase. B. integrating downstream. C. practicing arbitrage. D. integrating upstream.
The process in which people seeking higher yielding securities take their funds out of the banking system thus restricting the amount of funds banks can lend is called
A) capital mobility. B) loophole mining. C) disintermediation. D) deposit jumping.