In 1950, Social Security benefits increased by over 50 percent
a. True b. False
a
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Money serves as a
A) medium of exchange, unit of account, and store of value. B) means to conduct barter transactions. C) means of payment, legal obligation, and public tax. D) means of worker exploitation and capitalist enrichment. E) means of settling debts, transaction lubricant, and private commodity.
The biggest percentage of corporate receipts in the United States is accounted for by which type of organization?
a. sole proprietorships b. small corporations c. large corporations d. small partnerships e. large partnerships
Assuming the free flow of capital across borders, which of the following statements is most correct?
A. A central bank cannot have both a fixed exchange rate and an independent inflation policy. B. The central banks of most industrialized countries focus on fixed exchange rates. C. While most central banks of industrialized countries favor fixing exchange rates, their primary concern is on domestic inflation. D. A central bank can have both a fixed exchange rate and an independent inflation policy.
Figure 14.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers believe that 50% of used bikes are lemons (low quality), how many plums (high quality) will be supplied by sellers?
A. 8 B. 12 C. 16 D. 22