Most government securities transactions take place in the
A) futures market.
B) commodities market.
C) over-the-counter dealer market.
D) New York securities market.
C
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Which of the following statements is true?
A) An economy's production possibilities curve is convex to the origin. B) The opportunity cost of producing a good decreases as more resources are used for its production. C) The production possibilities curve of a country is fixed in the short run. D) The slope of the production possibilities curve represents the terms of trade between two states.
A unit tax
A) is based on the value of the good being sold. B) is a constant tax assessed on each unit of a good sold. C) is the primary tax studied in dynamic tax analysis. D) does not influence equilibrium price and quantity.
Suppose both goods L and M have a price of $6 . To maximize your utility from spending a given amount of income on the two goods you should: a. consume more each as long as they provide more than 6 units of marginal utility each
b. consume them so that consumption of each good provides the same total utility. c. consume them so that consumption of the last unit each good provides the same marginal utility. d. all of the above.
The broad field of ________ would most likely study how all consumers respond to a hike in cigarette taxes.
A. labor economics B. development economics C. microeconomics D. macroeconomics