Of the following high-income countries, which has the lowest infant mortality rate?
A) Canada
B) Japan
C) the United Kingdom
D) the United States
Answer: B
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As the term “opportunity cost” is defined in the text, the opportunity cost of going to college includes
A. both tuition and the value of the student’s time. B. tuition but not the value of the student’s time, which is a cash cost. C. the value of the student’s time but not tuition, which is a monetary cost. D. neither tuition nor the value of the student’s time, since obtaining a college degree makes one’s income higher in the future. E. neither tuition nor the value of the student’s time, at least at subsidized state universities.
At the end of World War I (1918), the United States
A. emerged as the world's leading industrial power. B. was the world's largest economy. C. had become the greatest military power. D. All of the choices are true.
The fact that money can be exchanged for goods reflects money's role as a
A) cause of inflation. B) medium of exchange. C) unit of account. D) store of value.
Bank reserves will decrease if
A) Fed liabilities decrease. B) currency held by the public decreases. C) float decreases. D) Fed assets increase.