Which of the following is the best example of a near money?
A. a money market account
B. a valuable painting
C. a dollar bill
D. a Treasury bond
Answer: A
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Refer to Scenario 11.1. Suppose all five ranchers know that their land that Mariana needs is worth a total of $2 million. If each rancher agrees to sell his or her parcel of land to Mariana for $500,000, Mariana will purchase
A) all five parcels of land and the railway will be built. B) all five parcels of land but the railway will not be built. C) only four parcels of land and the railway will be built. D) no parcels of land and the railway will not be built.
An example of a production possibilities frontier faced by every economy is the macroeconomic choice between production of consumer goods and services versus consumption and production of physical capital
a. True b. False Indicate whether the statement is true or false
If total profit is maximized, then marginal cost must equal marginal revenue.
Answer the following statement true (T) or false (F)
Evaluating risk requires that:
A. we think about different possible outcomes. B. we accept that our best guess about future costs and benefits could be wrong. C. we consider uncertain costs or benefits of an event or choice. D. All of these statements are true.