Which of the following is least likely to be money?
A. cash or currency
B. capital
C. a checking account
Answer: B. capital
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The agreement of the United States, Canada, and Mexico to eliminate tariffs on the shipment of most products among the three countries is called the
a. General Agreement on Tariffs and Trade. b. Uruguay Round. c. North American Free Trade Agreement. d. Tariff Reduction Act of 1993.
In determining the beginning of recessions, the NBER Business Cycle Dating Committee looks for evidence of decline in:
A. the rate of inflation. B. specific sectors of the economy. C. the stock market. D. the entire economy.
The duopolists' dilemma refers to the situation in which:
A. duopolists would be better off maintaining high prices but face an incentive to choose a low price. B. duopolists can only earn high profits by breaking the law. C. duopolists who are engaged in price fixing have an incentive to report the behavior to the government. D. duopolists do not have a dominant strategy.
To be effective, infant industry protection requires
A) a national security externality. B) to be extended indefinitely. C) to be fair to existing producers. D) a technology externality.