(Consider This) Credit card balances are:
A. a component of M1.
B. a component of M2 but not of M1.
C. a component of M1 but not of M2.
D. not a component of M1 or M2.
D. not a component of M1 or M2.
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Using a Website created by the Sacramento Bee in 2008 that published the salaries of all California state employees, economists conducted research and found that
A) job satisfaction depends only on a person's salary. B) employees with above-median earnings were, surprisingly, the least satisfied with their jobs. C) knowing their co-workers' salaries affected employees' job satisfaction. D) no employees seemed to be unsatisfied with their jobs or the salaries they were earning.
Barry Bonds and Jennifer Lopez have which of the following in common?
A) Neither of them faces the problem of scarcity. B) Each of them acts solely in the public interest. C) Each of them chooses to advance some projects over others. D) None of the above.
Which of the following is a characteristic of pure capitalism?
a. all resources are owned communally b. economic activity is coordinated by government decision makers c. the price system is used to guide resources to their highest-valued uses d. centralized economic planning is used to answer the basic economic questions e. individual choices are reflected only through collective decisions
It is relatively easy for firms to enter and exit a perfectly competitive market
a. True b. False Indicate whether the statement is true or false