What asset is created by government, not sold on financial markets, not issued by financial intermediaries, and is held directly by savers?
A) checkable deposits
B) currency
C) government bonds
D) mortgages
B
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Use the following table to answer the question below.Giovanni's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn02400480301802036060120402409060601201200800Who has the comparative advantage in the production of green beans?
A. Giovanni B. Jorge C. Both D. Neither
The figure below shows a firm that has two plants. Plant 1 has a marginal cost curve of mc1, plant 2 has a marginal cost curve of mc2, and the overall marginal cost curve is MC. When the managers maximize profit, the marginal cost in plant 1 is ________ and the marginal cost in plant 2 is ________ .
A) $160; $150
B) $80 per unit; $80 per unit
C) $120; $100
D) None of the above answers is correct.
"It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax?
a. Benefits-received. b. Inexpensive-to-collect. c. Ability-to-pay. d. Fairness of contribution.
Microeconomics: a. provides an overall view of the economy and how it functions
b. explores the behavior of individual consumers and firms when confronted with scarcity. c. examines the aggregate behavior of consumers and firms when confronted with scarcity. d. is a "positive" science, whereas macroeconomics is a "normative" science.