Which of the following items are counted in M2?
a. stock mutual funds
b. money-market mutual funds
c. bond mutual funds
d. all of the above
B
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Which of the following can lead to a firm being more efficient that a market? A firm can have I. economies of scale. II. economies of scope. III. lower transactions costs
A) III only B) I and II C) II and III D) I, II and III
A natural monopoly regulated with a marginal cost pricing rule results in
A) an economic loss for the regulated firm. B) an economic profit for the regulated firm. C) a normal profit for the regulated firm. D) a deadweight loss.
A main rationale for government intervention in markets ________ and ________
A) is to reduce producer surplus; redistribute wealth B) concerns the creation of public goods; reduces free-riding C) is to correct market failures; increase surplus D) There is never an economic rationale for government intervention.
Which of the following statements is not consistent with the "environmental explanation" of wage and productivity?
a. "Women are more likely than men to leave the labor force to care for children and hence acquire less work experience than do men." b. "Blacks and other minorities do not receive, on average, the same quality of education as whites." c. "Boys are more likely than girls to receive moral and financial support from their families to attend college." d. "Employers discriminate systematically against blacks and women."