Adam Smith stated, "The man of system is apt to be very wise in his own conceit. He seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board.". Which is true of this statement?
a. Keynes would tend to agree with the statement; Heyek would disagree with it.
b. Keynes would tend to disagree with the statement; Hayek would agree with it.
c. As the rap video indicates, both Keynes and Hayek strongly agree with this statement.
d. As the rap video indicates, both Keynes and Hayek strongly disagree with this statement.
B
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Banks use repurchase agreements to
A) ensure that payments on consumer loans are made on time. B) borrow funds from business firms or other banks. C) guard against price fluctuations on long-term bonds. D) ensure that they always have enough funds on hand to meet their federal tax liabilities.
Large amusement parks charge entrance fees rather than fee per ride because
a. Customers are more sensitive to paying a fee per ride b. Customers are less sensitive to paying a fee per ride c. Customers view paying per ride as a smaller cost d. None of the above
Subsidies are payments made by the government of a country to:
a. foreign firms to encourage imports. b. foreign firms to encourage domestic exports. c. domestic firms to encourage exports. d. domestic firms to encourage imports. e. domestic firms to ensure domestic consumption of their goods.
Suppose that on average each dollar in 1988 would buy what could have been purchased for 25 cents in 1967 (which you assume is the base year for the CPI). What is the CPI in 1988?
A. 100 B. 200 C. 400 D. 500