What are the four types of market structure?
What will be an ideal response?
monopoly, oligopoly, monopolistic competition, and perfect competition
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Approximately half of all U.S. workers are employed by various levels of government.
Answer the following statement true (T) or false (F)
Moral hazard occurs when an agreement encourages undesirable behavior
Indicate whether the statement is true or false
When economists refer to the role of money as a unit of account, they mean that
A) most accounting systems reflect that goods are purchased with currency. B) most accounting systems reflect that goods are purchased with checks. C) money gives traders a way of measuring value in the economy. D) money makes it possible for specialization to take place.
If there is a recession, the Fed would most likely:
a. encourage banks to provide loans by lowering the discount rate. b. encourage banks to provide loans by raising the discount rate. c. restrict bank lending by lowering the discount rate. d. restrict bank lending by raising the discount rate. e. restrict bank lending by lowering the federal funds rate.