The major difference between government and governance is that governance is
A. institutional only.
B. institutional and networked.
C. institutional and global.
D. networked and privatized.
Ans: B. institutional and networked.
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Figure 4.5 illustrates a set of supply and demand curves for hamburgers. A decrease in supply and a decrease in quantity demanded are represented by a movement from
A) point c to point a. B) point c to point d. C) point b to point c. D) point a to point d.
Why is it important for consumers to know the change in relative price of a good or service they consume?
a. It allows them to calculate the actual rate of inflation. b. It helps them understand whether they are still getting the most “bang for their buck.” c. It allows them to calculate how much more expensive one good is compared to another. d. It helps them understand that any increase is due to inflation.
Primary reserves are held in the form of ____ and ____; secondary reserves are held in the form of _____.
Fill in the blank(s) with the appropriate word(s).
Suppose that real domestic output in an economy is 2400 units, the quantity of inputs is 60, and the price of each input is $30. The per-unit cost of production is:
A. $2.00. B. $0.75. C. $0.50. D. $0.25.