Which of the following is true?
a. Human choice is generally not influenced by changes in incentives.
b. What is true for the individual must be true for the group as a whole.
c. Using scarce resources to meet one need reduces our ability to meet needs in other areas.
d. The economic way of thinking stresses that good intentions usually lead to sound economic policy.
C
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The above table shows the market shares for all the landscaping services in a suburban area. The Herfindahl-Hirschman Index (HHI) equals
A) 65. B) 900. C) 1400. D) 1600.
All of the following are examples of off-balance sheet activities that generate fee income for banks EXCEPT
A) foreign exchange trades. B) guaranteeing debt securities. C) back-up lines of credit. D) selling negotiable CDs.
Over time, overall responsibility for formulating monetary policy has become increasingly concentrated in the
A) Federal Reserve Bank of New York. B) Council of Economic Advisors. C) Federal Deposit Insurance Corporation. D) Federal Reserve Board of Governors.
A profit-maximizing firm will never increase production if doing so causes total revenue to decrease
a. True b. False