Each of the following is an industrial country except
A. Belgium.
B. Germany.
C. Vietnam.
D. Sweden.
C. Vietnam.
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During the financial crisis of 2007–2009, why did the Federal Reserve begin to utilize various types of unconventional monetary policy?
A. The federal funds rate had already been increased as much as possible. B. The discount rate had already been increased as much as possible. C. The federal funds rate had already been reduced to zero. D. The discount rate had already been reduced to zero.
Behavioral economists have found that people ______________, and this leads to irrational decisions.
A. often forget money is fungible B. often undervalue opportunity costs C. often forget to ignore sunk costs D. All of these statements are correct.
When a producer has the ability to produce a good or service at a lower opportunity cost than others, economists say the producer:
A. has an absolute advantage at producing that good. B. has a comparative advantage at producing that good. C. has no reason to trade with others. D. is efficient in production.
Since it is difficult to establish and enforce ownership rights over air, people have less incentive to preserve air quality than if its ownership was clearly defined
a. True b. False Indicate whether the statement is true or false