Payments from government accounts to individuals for programs that do not involve a purchase of goods or services are called:
A. fiscal policy.
B. grants.
C. transfer payments.
D. discretionary funds.
Answer: C
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The face value of a bond is:
a. the amount of the coupon that is paid at equal intervals. b. the amount repaid to the lender on maturity. c. the percentage of company profits that is paid to the borrower. d. equivalent to the capital gain. e. equivalent to economic profit.
Which term is used when the price is above the equilibrium price?
a. shortage b. surplus c. equilibrium d. no market
Which of the following factors weakens the case for private-sector provision of goods and services as opposed to public-sector provision?
a. weak incentives for operational efficiency b. rent-seeking c. the shortsightedness effect d. externalities
A unit of account is
A) a bank account. B) a savings account. C) a common measurement in which values are expressed. D) the same as a medium of exchange. E) none of the above