Until the beginning of the 20th century, the overriding and chronic money problem the United States faced was
a. an overreaching and politically controlled Federal Reserve System
b. an inability to persuade the Treasury to make open market operations
c. the banks' inclination to overissue currency
d. the inability of the Federal Open Market Committee to agree among themselves on policy issues
e. the linking of fiscal and monetary policy by the central bank
C
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If Indiana has an absolute advantage over Maine in producing both corn and ball bearings, then
a. Indiana should produce both corn and ball bearings b. there are no benefits possible from specialization c. Maine should produce ball bearings and Indiana should produce corn d. Indiana should produce ball bearings and Maine should produce corn e. they still may benefit from specialization, but more information is needed to determine which state should specialize in each
(Last Word) A caller to a radio talk show states that oil companies are "greedy price gougers." This is an example of:
A. loaded terminology. B. the "after this, therefore because of this fallacy." C. the fallacy of composition. D. the economic perspective.
The possibility for recipients of funds in foreign countries to engage in riskier behavior after receiving financing is called
A. adverse selection. B. inequitable financing. C. moral hazard. D. asymmetric information.
Owners face unlimited liability in
A. national corporations and global corporations. B. proprietorships and partnerships. C. partnerships and corporations. D. proprietorships and corporations.