Which of the following barriers to entry into a market is most beneficial from society's perspective?
A) Economies of scale.
B) Ownership of an essential productive resource.
C) Brand loyalties.
D) Consumer lock-in and switching costs.
A
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European governments removed many restrictions on flows of capital into and out of Europe in the ________. This policy increased both U.S. investment in European stocks and bonds and European investment in U.S. stocks and bonds
A) 1980s and 1990s B) 1970s and 1980s C) 1960s and 1970s D) 1950s and 1960s
Lou buys a Star Wars: The Force Awakens poster at a garage sale for $30 and resells it on eBay to Kyle for $60. Which of the following statements is true?
A) The transaction is economically inefficient. B) The transaction has made Lou and Kyle better off. C) The transaction has made Lou better off and Kyle worse off. D) It is not possible for Kyle to enjoy any consumer surplus from this transaction.
Activities designed to convert resources into goods and services is known as
A) supply. B) consumption. C) production. D) scarcity.
If the Fed wishes to increase the money supply, it could:
A. increase the discount rate. B. buy bonds. C. increase the reserve requirement. D. print more currency.