The number of transactions a typical dollar is used in during a given period is called the:
A. transaction velocity.
B. transaction rate.
C. quantity theory of money.
D. velocity of money.
Answer: D
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Suppose that production of a good creates a negative externality. An excise tax equivalent to the difference between the marginal social cost and the marginal private cost of production can correct the inefficiency
a. True b. False
Which of the following statements is false?
a. Profit is increasing when marginal revenue is greater than marginal cost. b. Marginal cost is always decreasing. c. Marginal and average total costs are equal at the most efficient production level. d. The AFC and AVC curves cross. e. The AFC and ATC curves do not cross.
Regulation of industry is usually carried out by special government agencies that administer and interpret the law.
Answer the following statement true (T) or false (F)
Which of the following is the most likely response to an increase in the U.S. real interest rate?
a. a London bank purchases a U.S. bond instead of a Japanese bond it had considered purchasing b. U.S. firms decide to buy more capital goods c. a U.S. citizen decides to put less money in his savings account than he had planned. d. All of the above are consistent.