What is the type of economic system that relies on one central authority to make economic decisions?
A. command and control
B. mixed economic system
C. price system
D. free market
Answer: A
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To offset the effect of households and firms deciding to hold less of their money in checking account deposits and more in currency, the Federal Reserve could
A) raise the required reserve ratio. B) buy Treasury securities. C) raise the discount rate. D) lower bank taxes.
The production possibilities frontier is the boundary between
A) those combinations of goods and services that can be produced and those that can be consumed. B) those resources that are limited and those that are unlimited. C) those combinations of goods and services that can be produced and those that cannot. D) those wants that are limited and those that are unlimited.
Which of the following is a desirable property of money?
a. Scarcity. b. Portability. c. Divisibility. d. All of these.
In a derivative transaction:
A. the dollar amount of the transaction increases as the contract date approaches. B. the risk is less than if actually purchasing the underlying asset. C. there is always a futures contract. D. what one person gains is what the other person loses.