Who is most likely to be earning economic rent?
A. A tenant farmer
B. A factory worker
C. David Letterman
D. An IRS agent
C. David Letterman
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The equilibrium quantity in a perfectly competitive market is determined:
A) at the point of intersection of the demand curve and the quantity axis. B) at the point of intersection of the demand and supply curves. C) at the point of intersection of the supply curve and the quantity axis. D) at the point of tangency between the demand and supply curves.
Because of the weak systems of property rights in many developing and transition economies, the financial system is unable to use collateral effectively worsening the ________ problem
A) adverse selection B) moral hazard C) principal/agent D) diversification
Suppose the Federal Reserve releases a policy statement today which leads people to believe that the Fed will be enacting expansionary monetary policy in the near future
Everything else held constant, the release of this statement would immediately cause the demand for U.S. assets to ________ and the U.S. dollar to ________. A) increase; appreciate B) decrease; appreciate C) increase; depreciate D) decrease; depreciate
Which of the following is most likely to increase the potential output of an economy?
What will be an ideal response?