Which one of the following is NOT a part of the M1 definition of money?
A) paper currency (i.e., Federal Reserve notes)
B) coins
C) savings accounts
D) checkable and debitable accounts
C
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Who benefits from a tariff on a good?
A) domestic consumers of the good B) foreign governments C) domestic producers of the good D) foreign producers of the good
A country has had its per capital real GDP remain constant for several years. During this period this country
A) has not experienced any economic growth. B) may have experienced economic growth if the average hours worked per week have fallen. C) will have experienced an inward shift of the production possibilities curve. D) will have an increase in the number of poor people.
Legislators often gain by bundling a number of projects benefiting local districts at the expense of general taxpayers together on a single bill. Such legislation is called
a. market failure legislation. b. the rational-ignorance effect. c. public-goods legislation. d. pork-barrel legislation.
Which of the following statements is false?
A) A theory should be judged based upon whether or not it tells us the things we want to hear. B) Scientists are interested in finding out when their theories are wrong or right. C) Scientists are interested in building theories that can be refuted. D) If evidence is consistent with a theory's predictions, we state that the evidence fails to reject the theory.