The federal budget has three components. Name them.
What will be an ideal response?
discretionary spending, entitlements and mandatory spending, net interest
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An increase in income shifts indifference curves outward.
Answer the following statement true (T) or false (F)
A package of nontraded financial instruments can be transformed into a traded financial instrument through the process of
A) collateralization. B) repurchasing. C) securitization. D) underwriting.
In 1971, a bank worker could process 265 checks in 1 hour. Currently, computers with built-in reader-sorter processing capacity have pushed that number above 100,000 checks per hour. Economists describe this type of activity as
a. exploitation of labor. b. an increase in labor productivity. c. speed-up. d. comparative advantage. e. mutual gains from voluntary trade.
A rise in interest rates will increase your incentive to
A) save more, borrow less, and pay off credit card debt. B) consume now, borrow more, and save later. C) buy more things on credit and postpone savings. D) borrow money to buy a new car.