In the U.S. economy, which of the following is NOT a generally accepted economic function of government?
A) providing public goods
B) distributing consumer goods
C) ensuring economy-wide stability
D) promoting competition in the marketplace
B
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A Nash equilibrium occurs when ________
A) each player has a dominant strategy B) none of the players has a dominant strategy C) each player can increase his payoff by choosing a different strategy D) none of the players can increase their payoffs by choosing a different strategy
Contracts tend to increase the level of specialization in an economy
a. True b. False
A tax levied on the sellers of blueberries
a. increases sellers' costs, reduces profits, and shifts the supply curve up. b. increases sellers' costs, reduces profits, and shifts the supply curve down. c. decreases sellers' costs, increases profits, and shifts the supply curve up. d. decreases sellers' costs, increases profits, and shifts the supply curve down.
Which one of the following equations is correct?
A. Total reserves minus excess reserves equals required reserves. B. Excess reserves minus required reserves equals total reserves. C. Required reserves equals excess reserves divided by total reserves. D. Total reserves equals excess reserves divided by required reserves.