Which of the following is the best example of a "What?" question?
A) Should automobiles be produced using workers or robots?
B) Should higher-income or lower-income people buy SUVs?
C) Should we make faster microprocessors or pest-resistant corn?
D) Should migrant workers or domestic workers be used to pick grapes?
E) What should doctors be paid?
C
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In the circular flow model of the market system, households
A. buy products and sell resources. B. sell products and resources. C. sell products and buy resources. D. buy products and resources.
If we wanted to describe unemployment in terms of supply and demand, we could say:
A. the quantity of those demanding labor is greater than those supplying labor. B. there is a surplus of labor. C. at the prevailing wage, the demand is greater than the supply of labor. D. All of these are true.
Which one of the following statements is TRUE?
A. Demand deposits are assets of a bank. B. A bank's assets plus its liabilities must equal zero. C. A bank's reserves can only be kept as cash in its vault. D. Assets generate income for a bank.
In the context of terrorism, an example of self-protection would be
A. the airline industry increasing security. B. an insurance company buying reinsurance from the government. C. the airline industry buying terrorism insurance. D. an insurance company buying reinsurance from another insurance company.