The stock market is
A) where interest rates are determined.
B) the most widely followed financial market in the United States.
C) where foreign exchange rates are determined.
D) the market where most borrowers get their funds.
B
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Pure capitalism and a pure command system represent
a. two different ways of answering the basic economic questions b. two names describing the same method of answering the basic economic questions c. the only two ways of answering the basic economic questions d. the most efficient ways to answer the basic economic questions e. none of the above
In perfect competition
a. the demand curve facing the firm is a horizontal line at the market price b. marginal revenue equals total revenue c. total revenue always exceeds variable cost d. price always exceeds average total cost e. marginal cost always equals average cost
The town of Isle is on a small island connected to Big City by a single bridge. Most of the residents of Isle work in Big City. As a result, the bridge becomes very congested for 2 hours each day at the typical morning and evening commute times. Which of the following policies considered by the mayor of Isle would likely be most effective in alleviating the congestion?
a. A fixed toll for the bridge payable by every vehicle crossing the bridge at all days and times. b. A variable toll for the bridge payable only by vehicles crossing the bridge during the congested commute times. c. Any vehicle crossing the bridge at any time must have a sticker paid for with a one-time fee of $25. d. A press conference in which the mayor requests that people try to cross the bridge earlier or later than the typical commute times.
The Federal Reserve is:
A. the United States' central bank. B. a Congressional committee. C. another name for the U.S. Treasury. D. the largest commercial bank in the U.S.