Which of the following is included in government purchases?
a. unemployment benefits a state pays
b. Social Security payments the U.S. government makes
c. the services of a U.S. government attorney valued at the cost of her salary
d. All of the above are correct.
c
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Between 1960 and 1997, the federal budget was never in surplus
a. True b. False Indicate whether the statement is true or false
A physical book that sells new for $100 will rent for around
A. $100. B. $75. C. $25. D. $50.
Gains from trade
A) result in being able to consume beyond the trading individuals' production possibilities frontiers. B) occur when one party to the trade has an absolute advantage in both goods. C) occur when people do not specialize. D) occur when opportunity costs are equal. E) always benefit one party but not the other party of any trade.
Of the following methods that banks might use to reduce moral hazard problems, the one not legally permitted in the United States is the
A) requirement that firms keep compensating balances at the banks from which they obtain their loans. B) requirement that firms place on their board of directors an officer from the bank. C) inclusion of restrictive covenants in loan contracts. D) requirement that individuals provide detailed credit histories to bank loan officers.