The aspects of the society's rule that concern economic transactions are referred to as:
A) economic principles. B) economic institutions.
C) financial regulations. D) economic ideals.
B
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Compared with a U.S. Treasury note, a corporate bond is likely to have a
A) wider bid-asked spread. B) narrower bid-asked spread. C) higher bid price. D) higher asked price.
Technically speaking, maximizing profit means finding the maximum difference between
a. TR and TC b. MR and MC c. price and ATC d. price and AR e. ATC and MC
In order to function as a medium of exchange, money must:
A. be backed by gold. B. be generally accepted in exchange for goods and services. C. be backed by some precious commodity. D. maintain a constant value over an extended period of time.
Sarah is a full-time student who is not looking for work. What kind of unemployment is Sarah experiencing?
A) cyclical B) structural C) frictional D) Sarah is not experiencing unemployment of any kind, because she is not currently part of the labor force.