Institutions that help to match one person's saving with another person's investment are collectively called the
a. Federal Reserve system.
b. banking system.
c. monetary system.
d. financial system.
d
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Explain the concept of a self-fulfilling prophecy
What will be an ideal response?
Which of the following does not constitute a household consumption item?
a. A pair of jeans b. A bottle of Beck's beer c. A haircut d. A steam turbine electric generator e. A packet of breakfast cereal
An externality is an event which
a. is external to economics. b. always brings harm to someone in the economy. c. is incidental to some market activity. d. harms the economy as a whole rather than a particular person.
The biggest reform in the federal welfare system in 50 years came in 1997, when the Aid for Families with Dependent Children (AFDC) entitlement program replaced the Temporary Assistance for Needy Families (TANF) program
Indicate whether the statement is true or false