Small-denomination certificates of deposits are
A) included in M1 and M2. B) included in M2 but not M1.
C) included in M1 but not M2. D) included only in M1.
B
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How is it that economists can claim that perfectly competitive markets give people what they want?
What will be an ideal response?
Diminishing marginal productivity can occur due to the following reason(s)
a. the difficulty of monitoring and motivating larger workforces b. the increasing complexity of larger systems c. the "fixity" or permanence of some factor of production d. all of the above
If all of the returns to a resource are in the form of economic rent,
a. the demand curve for that resource must be horizontal b. the demand curve for that resource must be vertical c. the supply curve of that resource must be horizontal d. the supply curve of that resource must be vertical e. the demand curve for that resource must be perfectly elastic
Under laissez-faire, the force that drives the economy toward an efficient outcome is
A. central planning. B. majority voting. C. the pursuit of self-interest. D. altruism.