Seeking profits without producing anything
A) is called rent-seeking
B) is illegal
C) usually involves government
D) all of these choices
D
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Which of the following business combinations likely exhibit economies of scope?
A) Banking services for individuals and banking services for other business B) Retail clothing stores and electronic (internet) clothing sales C) Hospitals that perform heart surgery and hospitals that perform cosmetic surgery D) all of the above
When the Federal Reserve buys new government bonds, it is borrowing from the government
a. True b. False
A true public good is characterized by
A. depletability but not excludability. B. excludability but not depletability. C. both depletability and excludability. D. neither depletability nor excludability.
Money that is backed solely by a government decree is referred to as fiat money.
Answer the following statement true (T) or false (F)