Types of money used by colonists included all of the following except:
a. gold and silver coins.
b. bills of exchange.
c. bills of credit.
d. government-issued fiat currency.
d. government-issued fiat currency.
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Which of the following is not an example of price discrimination?
A) Unlike foreign tourists, citizens of Cambodia are exempted from paying an admission fee to the temples of Angkor. B) Senior citizens may purchase special fare tickets for public transportation that are not available to others. C) Adobe Systems offers software at discounted prices to students and faculty at K-12 and university levels. D) Buyers at an automotive parts store receive a discount for bulk buying because the store is able to pass on to its customers some of the lower average cost for producing large quantities.
All of the following involve a moral hazard problem EXCEPT
A) an individual driving carelessly after buying a comprehensive insurance policy for a Ford Pinto. B) the IMF bailing Mexico out of a financial crisis, with promises to do the same for other nations that might face financial problems. C) making regular visits to your doctor because you know that you have full healthcare coverage. D) the requirement of banking institutions that owners invest a substantial portion of their own capital in their bank. E) membership in FDIC (Federal Deposit Insurance Corporation) by your local bank.
Suppose that the total production of an economy consists of 10 oranges and 5 candy bars, each orange sells for $0.20, and each candy bar sells for $1.00. What is the market value of production in this economy?
A. $1.20 B. $5.00 C. $7.00 D. $2.00
In the goods market:
A. businesses produce goods and services and sells them to households and government. B. government produces goods and services and supplies them to households and businesses. C. households supply factors of production to businesses and are paid by businesses for doing so. D. households supply goods to businesses and are paid by businesses for doing so.