High profits in some risky industries attract additional entrepreneurs to those industries
a. True
b. False
Indicate whether the statement is true or false
True
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The money aggregate M1 consists of
A) currency and savings accounts. B) currency and checking deposits, including traveler's checks. C) only checking deposits and time deposits. D) checking accounts, savings accounts and Treasury bills.
Suppose, before the Asian financial crisis, the Thai baht was fixed against the dollar at a rate of 26 bahts for one U.S. dollar. If the exchange rate were allowed to float freely, the market would then set the rate at 35 bahts for one dollar. Under these circumstances, we say that the baht was:
a. about to appreciate. b. fixed below its par value. c. overvalued. d. undervalued. e. revalued.
Under rent control, tenants can expect
a. lower rent and higher quality housing. b. lower rent and lower quality housing. c. higher rent and a shortage of rental housing. d. higher rent and a surplus of rental housing.
The rationing or distribution of scarce goods requires that
What will be an ideal response?