One way the government can enhance efficiency through the management of common resources is by:
A. setting quotas for the good.
B. banning the good.
C. government provision of the good.
D. All of these can be effective and efficiency-enhancing solutions.
Answer: D
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According to which of the following models are economic agents assumed to have perfect information?
a. The new classical model b. The classical model c. The monetarist model d. The Keynesian model
If the Fed sells a T-bill to an individual rather than to a commercial bank, how will this affect the money supply?
A. It will increase the money supply. B. It will increase the checking account balance of the individual. C. It will have no effect on the money supply. D. It will decrease the money supply.
The minimum amount of reserves a bank is required to hold is known as
A. Total reserves. B. Required reserve ratio. C. Excess reserves. D. The money multiplier.
A country has a (an) __________ in the production of a good it produces at lower opportunity cost than another country
A) absolute advantage B) specialization disadvantage C) tariff-efficient advantage D) infant-industry advantage E) none of the above