The market for General Motors' bonds
a. exists only within the geographical boundaries of the United States
b. is not defined by its geographic location
c. is at the New York Stock Exchange
d. is at the U.S. Treasury
e. is in London, England
B
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After 1929 in the United States, as measured by the Lorenz curve, income inequality:
a. increased sharply. b. remain unchanged. c. declined. d. increased.
Nonsmoking sections in restaurants are designed to remove ____ from a market ____
a. smoke; with food service b. third parties; for food service c. externalities; with public goods d. third parties; externality e. nonsmokers; for food service
What is the difference between explicit costs and implicit costs? List three examples each of explicit costs and implicit costs that may be experienced by a small business
What will be an ideal response?
?Which of the following is a characteristic of a pure command economy?
a. all resources are privately owned
b. economic activity is coordinated by the price system
c. competitive markets guide resources to their highest-valued uses
d. centralized economic planning is used to answer the basic economic questions
e. economic choices are voluntary and are based on rational self-interest