When making a decision, it is easier to identify and evaluate which of the following?
A. Costs associated with the decision.
B. Benefits associated with the decision.
C. Costs and benefits are equally easy to identify and evaluate.
D. Neither of these is often easy to identify and evaluate.
B. Benefits associated with the decision.
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In the national income accounting identity Q = C + S + T, T stands for
A) taxes. B) transfers. C) taxes minus transfers. D) taxes plus transfers.
What was the an effect of the Sherman Antitrust Act?
(A) John D. Rockefeller formed the Standard Oil Trust as a protected natural monopoly. (B) The federal government won the power to prevent monopolies and mergers that interfered with trade between states. (C) Microsoft required personal computer manufacturers to include its web browser with the Microsoft Windows operating system. (D) The federal government repealed regulations that controlled the airline and trucking industries.
When policy makers decide to devalue the currency, such an action generally represents
A) a decision to let the currency float. B) an increase in the pegged value of the domestic currency. C) a reduction in the foreign price level. D) a reduction in the domestic price level. E) none of the above
Which of the following is not counted in M1?
A) checking account balances B) credit card balances C) coins in circulation D) currency in circulation E) traveler's check balances