Which fundamental economic question is most closely related to the issues of income distribution and poverty?
A. The What to Produce question.
B. The Why to Produce question.
C. The How to Produce question.
D. The For Whom to Produce question.
Answer: D
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A commercial bank has required reserves of $60 million and the reserve ratio is 20%. How much are the commercial bank's checkable-deposit liabilities?
A. $1,200 million B. $120 million C. $300 million D. $900 million
If there are no net factor payments from abroad and no unilateral transfers, net exports of $10 billion is the same as
A) a current account deficit of $10 billion. B) a financial account surplus of $10 billion. C) net acquisition of foreign assets of $10 billion. D) net foreign borrowing of $10 billion.
Some Internet companies like Amazon reduce the transaction costs of many purchases by
A) providing misleading information about the quality of products. B) providing information about products and firms that supply those products. C) advertising sales at local discount stores. D) paying its employees low wages.
The country that spends the most per capita on healthcare is _____.
Fill in the blank(s) with the appropriate word(s).