Which of the following is a feature of a black market?
a. It includes transactions that are not approved by the government
b. It includes the transaction of goods between the government and firms.
c. It includes the transaction of intermediate goods.
d. It includes the transaction of final goods and services that are produced in a country.
a
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Government officials facing the challenge of an election will tend to make decisions
A) acceptable to a majority whether or not the majority is informed on the issues. B) expressing the public interest. C) favoring the long run interests of the majority. D) that reflect a high rate of time discount.
Which of the following firms has unlimited liability?
A) only proprietorships B) only partnerships C) only corporations D) both proprietorships and partnerships
Which of the following statements concerning seasonal credit is true?
A) It tends to have a lower interest rate than federal funds. B) It has become increasingly more important in recent years. C) Only firms receiving secondary credit are eligible to receive seasonal credit. D) Improvements in credit markets have reduced the need for a seasonal credit facility.
The marginal utility of a second copy of today's New York Times is
a. infinite b. practically zero c. positive and greater than the marginal utility of the first copy d. equal to the marginal utility of the first copy e. 50 cents