According to ________, the law's assignment of property rights would have no effect on the way resources would end up being used
A) Milton Friedman
B) Ronald Coase
C) Aaron Director
D) George Stigler
B
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Thrift institutions importance as a source of funds for borrowers
A) has shrunk from around 40 percent of total credit advanced in the late 1970s to below 30 percent by 2014. B) has shrunk from over 20 percent of total credit advanced in the late 1970s to around 3 percent by 2014. C) has expanded dramatically, from around 15 percent of total credit advanced in the late 1970s to above 25 percent by 2014. D) has expanded dramatically, from around 15 percent of total credit advanced in the late 1970s to above 30 percent by 2014.
John has an economics test tomorrow. He must study and has planned the rest of his day so that he can fit some study time in. He has decided to go to the gym and then study for several hours. Which of the following statements is TRUE?
A) John did not use the economic way of thinking because his decision on how to allocate his time did not involve money. B) John's decision on how to allocate his time is inconsistent with the rationality assumption since he has decided to go to the gym. C) John's decision on how to allocate his time is consistent with the rationality assumption since the decision is intended to make him better off. D) John's decision does not involve his pursuit of self-interest.
Suppose you own $15,000 of personal property, $5,000 of stock in ABC Corporation, a $1,000 certificate of deposit, and $10,000 of government bonds. If ABC goes bankrupt, the most you could lose is
A) $31,000. B) $26,000. C) $15,000. D) $5,000.
Most power in the Federal Reserve System is held by the
a. president and Congress. b. Secretary of the Treasury, who appoints the members of the Board of Governors. c. Board of Governors of the system. d. member banks of the system.