What agency processes most of the electronic payments?
a. the Treasury
b. the Congress
c. the FDIC
d. the Fed
d. the Fed
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Shopping at a warehouse, such as Sam's Club or Costco, allows its members to pay very low prices on the goods and services they buy. Customers who shop at such a store incur:
A. transaction costs because they must be members to shop there. B. no transaction costs because they pay prices that are lower than any other location. C. transaction costs because they must buy a product in bulk. D. no transaction costs because members can return any item purchased for any reason.
To illustrate the classical argument that "supply creates its own demand," the aggregate supply curve should be drawn:
A. downward-sloping. B. upward-sloping. C. horizontal. D. vertical.
Which movement between two points represents economic growth?
A. J to K
B. K to L
C. L to M
D. M to N
Over the past thirty years in the U.S., increases in labor demand have been __________ than increases in labor supply so that wages on average have __________
a. smaller; increased b. larger; increased c. smaller; decreased d. larger; decreased e. larger; stayed constant