Who determines the price and quantity traded in a market?
A. buyers and sellers
B. buyers
C. sellers
D. prices and quantities traded are not generally determined in markets
Answer: A
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When the Fed sells government securities to banks, the sale
A) decreases banks' reserves. B) increases the quantity of money. C) creates more excess reserves. D) increases banks' reserves. E) increases the monetary base.
In an ad for insurance, the text reads "Life's an adventure, and there are plenty of perils awaiting your jewelry: a lost or broken stone, theft, accidental loss, damage, mysterious disappearance Have you thought about insurance?"
What is the economic reasoning for an individual to buy insurance? A) Individuals who buy insurance are profit maximizers. B) Individuals who buy insurance are rational. C) Individuals who buy insurance are dishonest and can profit from dishonesty. D) Individuals who buy insurance increase their expected utility by owning insurance.
Universal life insurance was created in response to
A) the popularity of whole life insurance. B) the popularity of variable life insurance. C) high interest rates. D) deregulation of banking.
The age-earning cycle shows an individual typically earning
A) a constant income (adjusted for inflation) over the entire working life of the worker. B) an income that cycles upward and downward as an individual ages. C) an income that increases with age, peaks, and then falls as retirement approaches. D) an income that declines until age 30-35 and then increases rapidly.