Which of the following is NOT a key financial service provided by the financial system?
A) risk sharing
B) profitability
C) liquidity
D) information
B
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If the economy were producing at point F,
A. it would not be using its resources efficiently.
B. it would be in a recession.
C. it could gain units of guns without having to sacrifice units of butter.
D. it would specializing exclusively in butter production.
The conceptual measure of the satisfaction a person obtains by consuming all the units of a good or service during a given time period is:
a. total product. b. total revenue. c. total utility. d. total product.
Which of the following is an antidumping argument in favor of restrictions on foreign trade? a. Foreign producers must be prevented from exporting their goods below cost of production
b. Domestic workers must be protected from the lower wages paid in foreign countries. c. The nation's security demands we ensure an adequate domestic supply of certain strategic goods. d. Do unto others as they do unto you. e. Industries in the early stages of development must be protected from more mature producers.
Public goods, when left to the private market will be:
A. oversupplied. B. overconsumed. C. underconsumed. D. undersupplied.