Which agency did Congress create in the 1930s to reduce information costs in financial markets?
A) FDIC
B) SEC
C) Federal Reserve
D) Consumer Financial Protection Agency
B
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Which of the following transactions would be included in the GDP of the United States?
A. Honda produces cars in Ohio. B. Coca Cola produces soft drinks in England. C. McDonalds sells hamburgers in Russia. D. Ford Motor Company produces cars in Mexico.
A market in which a single firm can produce, at a lower cost than multiple firms, the entire quantity of output demanded is called:
A. diseconomies of scale. B. government intervention. C. a natural monopoly. D. price gouging.
The demand for an input is called a derived demand because
A. employers of inputs, particularly labor, derive income from using inputs. B. employers derive satisfaction from giving employment to an input. C. the demand for output is derived from the demand for the inputs used to produce it. D. it arises from the demand for the output that the input is used to produce.
To remain in consumer optimum
A. a price decrease requires an increase in consumption. B. prices must remain static. C. a price decrease requires a decrease in consumption. D. a price increase requires an increase in consumption.