The cost of owning a government bond is ____________, and the benefit of owning one is ______________.
A. that it is as liquid as cash; interest earned
B. interest earned; that it is not very liquid
C. that it is highly liquid;interest charged
D. interest charged; that it is not very liquid
A. that it is as liquid as cash; interest earned
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GDP would be a better measure of economic well-being if it included:
A. the value of leisure. B. the market value of final goods. C. the total value of intermediate goods. D. the costs of education.
Refer to the accompanying table. Martha's opportunity cost of making of a pie is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. 80 cakes. B. 4/3 of a cake. C. 8 cakes. D. 3/4 of a cake.
Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. On the other hand, a Canadian worker can produce 10 pairs of shoes or grow 20 apples per day. The opportunity cost of a pair of shoes is ________ for the United States than Canada, so Canada has the ________ advantage in shoe production.
A. lower; comparative B. higher; comparative C. higher; absolute D. lower; absolute
As a result, of adverse selection problems in the fire insurance market, it is likely that over time
A. fewer low-risk and high-risk people will be insured. B. fewer high-risk people will be insured. C. more low-risk people will be insured. D. fewer low-risk people will be insured.