When a person holds money, they give up
A) the pleasure associated with spending money.
B) the pleasure associated with saving money.
C) the interest that could have been earned if the money had been changed into an interest-bearing asset.
D) nothing, since the person can always use the money to buy goods or services or interest-bearing assets.
C
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A cost that arises from the production or consumption that falls on someone other than the producer or consumer is called
A) a negative benefit. B) a public choice impact. C) a positive externality. D) a negative externality. E) a private good.
Criticisms of the Brander-Spencer model include all EXCEPT which of the following?
A) the problem of insufficient information B) the problem of likely foreign retaliation C) the problem of harm to interests of consumers D) the problem of adverse effects of trade policy politics E) the problem of simultaneously causing harm to other industries
During which Presidential administration did the United States both end its commitment to Bretton Woods and institute significant wage and price controls?
a. Dwight Eisenhower b. Richard Nixon c. Jimmy Carter d. William Clinton
Refer to the below graph. The relationship between the average tax rate and the tax base in a proportional tax would be represented by:
A. Curve A
B. Curve B
C. Curve C
D. None of the graphs