Government in the United States plays an unimportant role in the economy because the rules for the functioning of the private economy are inherent in the markets themselves.
a. true
b. false
Ans: b. false
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A bank's costs include all of the following EXCEPT
A) the interest it pays to depositors. B) the interest it pays on its loans or debt. C) the cost of providing services. D) the fees paid to maintain its reserve at the Federal Reserve.
Unlimited liability is a distinct advantage of the proprietorship.
Answer the following statement true (T) or false (F)
The government component (G) of total output includes goods and services purchased by
A. the federal government plus transfer payments. B. all government institutions plus transfer payments. C. all government institutions. D. all government institutions plus tax revenues.
Institutional constraints, such as immigration policies, affect the shape and location of the labor supply curve.
Answer the following statement true (T) or false (F)