One major assumption of economics is that people
A) act as if they systematically pursue self-interest.
B) behave randomly without any predictable pattern.
C) are sometimes rational and sometimes irrational.
D) always pursue the interests of others.
A
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Economic conflict(s) leading to the Civil War ___________________________.
A. were over tariffs and the extension of slavery into the new territories B. was the growing free trade with England C. was Abraham Lincoln freeing the slaves D. None of the choices are true
The two most important categories of assets on the Fed's balance sheet are ________ and ________ because they earn interest
A) discount loans; coins B) securities; discount loans C) gold; coins D) cash items in the process of collection; SDR certificate accounts
Food stamps and Medicaid are in-kind transfer programs
a. True b. False Indicate whether the statement is true or false
A market system (market economy) depends on the market to
a. find the most efficient way of using resources. b. determine how large the budget deficit should be. c. decide how much government regulation there should be. d. provide minimum incomes for everyone. e. All of the above are correct.