As noted in the text, which of the following was used by Nintendo to control the video game market?
a. a natural monopoly
b. economies of scale
c. a government franchise
d. exclusive licensing
d. exclusive licensing
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If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $1000 billion, and excess reserves total $1 billion, then the money supply is ________ billion
A) $10,000 B) $4000 C) $1400 D) $10,400
In the (consumption,leisure) space, indifference curves as we have assumed them have the property of presenting the highest levels of satisfaction
A) in the north-east corner. B) in the south-east corner. C) in the north-west corner. D) in the south-west corner.
Medicaid is an example of a cash assistance poverty program
Indicate whether the statement is true or false
Moral hazard describes a scenario in which:
A. people behave in a riskier fashion because they don't understand the consequences of their actions. B. behaving morally produces a negative consequence. C. people behave more risky or renege on agreements when they do not face the full consequences of their actions D. when people behave morally they put themselves in a hazardous situation.