Which person would most likely interject burdensome restrictions to avoid lawsuits?
A) public information officer
B) county attorney
C) patrol officer
D) county auditor
B) county attorney
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The transaction demand for money comes mostly from the fact that
A) money is a medium of exchange. B) money has low opportunity cost. C) money is a store of value. D) money is a unit of account.
Jenni can change a car's oil in 10 minutes and clean a bathroom in 20 minutes. Rob can change a car's oil in 20 minutes and clean a bathroom in 10 minutes. Therefore,
a. Jenni should clean the bathroom and Rob should change the car's oil b. Rob should clean the bathroom and Jenni should change the car's oil c. there are no gains from specialization d. Rob has an absolute advantage in both activities e. Jenni has an absolute advantage in cleaning the bathroom
Gross domestic product is the:
a. total market value of the final goods and services produced by an economy during a specific period of time. b. total value of all the goods and services produced in an economy plus the value of the goods and services imported minus the value of the goods and services exported. c. total market value of all final goods and services produced by the factors of production of an economy during a given time period minus depreciation. d. total quantity of all goods and services produced in an economy during a specific period of time.
Imagine two cities, Hometown and Visitorsville, where the rich, middle, and poor income recipients in one city have annual incomes identical to their counterparts' incomes in the other city. In Hometown, the poorest families one year almost always end up as the richest families the next year and become middle-income families the year after that. In Visitorsville, however, the poor remain poor and
the rich remain rich. Which of the following is true about the two cities? a. Annual data on the distribution of income will indicate that the degree of income inequality in the two cities is identical. b. The degree of lifetime income inequality in the two cities is identical. c. The income mobility of people in the two cities is identical. d. The distribution of annual income is more unequal in Visitorsville.