Becoming better at a task the more often you perform is referred to as:
A. economies of performance.
B. learning by doing.
C. inherent advantage.
D. economies of scope.
Answer: B
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An increase in unemployment, ceteris paribus, may
A. Lead to decreased government expenditures. B. Reduce a budget surplus. C. Reduce a budget deficit. D. Lead to increased government revenues.
The purpose of a tight money policy is to
A. alleviate recessions. B. raise interest rates and restrict the availability of bank credit. C. run budget surpluses. D. increase investment spending.
As a result of an increase in the personal income tax rate, consumers are likely to:
A. spend less. B. spend more. C. save more. D. earn more money.
An insurer requiring a policyholder with a collision claim to submit more than one estimate of the repair costs is using a deductible to reduce morally hazardous behavior
Indicate whether the statement is true or false