A bank account that permits direct payment to a third party is a
A. Savings account.
B. Transactions account.
C. Traveler's check.
D. Money market mutual fund.
Answer: B
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The classical economists attacked the mercantilist propositions that
a. state action was necessary to direct the capitalist system. b. money had no intrinsic value. c. output was completely supply-determined. d. the wealth of a nation was closely linked to the country's stock of precious metals. e. Both a and d
An example of an essential facility is
A) the telephone line into your house. B) U.S. Route 66. C) the Golden Gate Bridge. D) your local pizza parlor.
If Coke and Pepsi are close substitutes, then if:
a. Coke raises its price, so will Pepsi. b. Coke raises its price, it will not lose customers to Pepsi. c. Pepsi lowers its price, it will not hurt Coke. d. Pepsi lowers its price, so will Coke. e. Coke raises its price, some customers will switch to Pepsi.