What is the opportunity cost of economic growth?
A. Investment in the current time period
B. Improved technology in the current time period
C. Capital goods in the current time period
D. Consumption in the current time period
Answer: D
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A bond is
A. a claim on the assets of a corporation such that the purchaser has an ownership right in the corporation. B. anything of value to which the firm has a legal claim. C. a means of assuring that the business firm will pay its debts or fulfill other legal obligations. D. a promise to pay for the use of someone else's money.
Which of the following would cause an increase in the velocity of money?
a. An increase in the use of credit cards b. An increase in the money supply c. An increase in the demand for money d. A decrease in the rate of interest e. A decrease in nominal GDP and a constant money supply
If choice architects frame choices in terms of social norms people will:
A. behave according to how they view that norm. B. behave with the majority. C. be unaffected by what the majority is doing. D. behave in the opposite way, because "going rogue" is celebrated in our culture.
Asymmetric information exists in the market for used cars because:
A. sellers have better information concerning the quality of used cars than buyers. B. buyers have better information concerning the quality of used cars than sellers. C. buyers and sellers have equal information concerning the quality of used cars. D. it is impossible for buyers or sellers to determine the quality of used cars.