Wealth is measured as
A) only tangible objects.
B) only buildings, machinery, land, cars, stocks and bonds.
C) only nonhuman wealth.
D) nonhuman and human wealth.
Answer: D
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In the short run, firms expand their production when the price level rises because
A) the money wage rate remains constant so the higher prices for their products makes it profitable for firms to expand production. B) each firm must keep its production up to the level of its rivals, and some firms will expand production as the price level increases. C) the higher prices allow the firm to hire more workers by offering higher wages, thereby increasing productivity and profits. D) firms can increase their profits by increasing their maintenance.
Block pricing
A) is a form of nonlinear price discrimination. B) is pricing where one price is charged for the first block of units purchased, and different prices for subsequent blocks. C) can be either use increasing or decreasing prices for blocks purchased. D) All of the above.
Which of the following actions did Congress take in the 1930s, in an effort to prevent future financial crises like the stock market crash of 1929?
A. Formation of the FDIC B. Bubble Act C. Formation of the Federal Reserve Bank D. American Anti-Corruption Act
Today, the most common exchange rate arrangement in the world is
A) the fixed exchange rate system. B) the gold standard system. C) the managed floating system. D) the freely floating exchange rate system.