Prices ration goods to
A. the richest people.
B. the people with the lowest opportunity cost of time.
C. the people willing and able to pay the highest price.
D. the people who most deserve it.
Answer: C
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Which one of the following statements about public debt is most accurate?
a. Because rich and poor people hold government bonds, they are equally affected by the debt. b. Wealthy people are more likely to hold government bonds, and so they are less likely to be adversely affected by the debt c. Wealthy people are less likely to hold government bonds, and so they are more likely to be adversely affected by the debt. d. Poor people are more likely to hold government bonds, and so they are more likely to be adversely affected by the debt. e. Poor people are less likely to hold government bonds, and so they are less likely to be adversely affected by the debt.
Which of the following was a result of the Dodd-Frank Act?
a. restricted bank activities b. established a new consumer protection agency c. tougher regulations for banks d. All of the above
The three major categories of government spending are
A) government purchases, defense spending, and interest payments. B) defense spending, Medicare and Medicaid, and net interest. C) government purchases, transfer payments, and net interest. D) government purchases, defense spending, and transfer payments
The ability to exercise control over one's own resources within the confines of the law refers to
A) the free market. B) one's property rights. C) entrepreneurship. D) having an absolute advantage.