When government defines and enforces property rights, this is an example of government as
A. referee.
B. regulator of business.
C. buyer of goods and services.
D. tax collector.
E. redistributor.
Answer: A
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"When the Fed buys securities from a bank, the quantity of money eventually decreases by a fraction of the initial change in the monetary base." Is the previous statement correct or incorrect? Explain your answer
What will be an ideal response?
Products are homogenous when:
A. they are identical in the eyes of the purchasers B. some purchasers view the products as different C. suppliers can charge different prices for the same good D. they meet basic safety standards.
Why do the European countries like France, Germany, Italy and Spain have higher unemployment rates than other industrialized nations?
a. Low interest rate and low capital formation b. Minimum wages are lower in these European countries compared to the other industrialized nations c. Trade unions are not so prominent in these European countries d. Stringent policies adopted by the governments of these nations against the termination of workers by firms e. Nominal wages are more flexible in these nations compared to the other industrialized nations
Which of the following is likely to have the most price inelastic demand?
a. mint-flavored toothpaste b. toothpaste c. Colgate mint-flavored toothpaste d. a generic mint-flavored toothpaste