When the private costs and the social costs are NOT the same, there is a(n)
A) externality.
B) internality.
C) public good.
D) monopoly.
A
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Refer to the figure below where the nominal interest rate equals 6% and the money supply equals 600. If the Federal Reserve wants to raise the interest rate to 8%, it must ________ the money supply to ________. 
A. increase; 400 B. decrease; 400 C. increase; 800 D. decrease; 800
Explain the differences between inclusive and extractive economic institutions
What will be an ideal response?
Tommy's Teddy Bears incurs $300,000 per year in explicit costs and $50,000 in implicit costs. The shop earns $600,000 in revenues and has $1.1 million in net worth. Based on this information, what is accounting profit for Tommy's Teddy Bears?
A) $250,000 B) $300,000 C) $500,000 D) $1.35 million
Demand is said to be ___________ when the quantity demanded is very responsive to changes in price.
a. elastic b. unit elastic c. inelastic d. independent