The primary job of a bank is to act as an intermediary, taking in deposits from savers and then loaning that money to people who want to borrow
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 10.1. The dominant strategy for ________ is to contribute
A) Daisy B) Bo C) Luke D) none of the above
The _____ tend to have a smaller public sector relative to the total economy
a. socialist economies b. centrally planned economies c. autocratic economies d. market economies e. mercantilist economies
Which of the following results from having scarce economic resources?
a. The production of unlimited goods and services b. The production of limited goods and services c. Deflation d. Poverty and unequal distribution of wealth
The external marginal cost of producing coal is MCexternal = 8Q while the internal marginal cost is MC internal = 6Q. The inverse demand for coal is given by P = 180 ? 4Q. If the government taxed output at $2 per unit, what would a competitive industry produce?
A. 15 B. 18 C. 10 D. 20