An on-demand movie is an example of a club good
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 2-17. One segment of the circular flow diagram in the Figure shows the flow of funds from market F to economic agents G. The funds represent spending on goods and services. What is market F and who are economic agents G?
A) F = factor markets; G = households B) F = factor markets; G = firms C) F = product markets; G = firms D) F = product markets; G = households
The LM curve represents combinations of income and the interest rate at which
A) money demand equals money supply when the money supply is fixed. B) money supply equals money demand when the money demand is fixed. C) money demand equals money supply when the money supply can vary. D) money supply equals money demand when both the money supply and money demand can vary.
The reason that the Fed does not actively use discount rate policy to control the money supply is because the Fed
a. acts when a majority of member banks agree on policy and the banks rarely agree. b. earns interest on discounting and cannot afford to lose the revenue. c. does not know how banks will respond to discount rate changes. d. has been directed by Congress to set the discount rate at a permanent level.
If an individual is taxed at a 17 percent rate for each extra dollar earned, the reference is to the
A. Average tax rate. B. Effective tax rate. C. Nominal tax rate. D. Marginal tax rate.