Saving time by driving faster is an example of a ________ of driving faster. Increasing the severity of injuries from a potential accident due to driving faster is a(n) ________ of driving faster.
A. nominal cost; real cost
B. marginal cost; nominal cost
C. marginal benefit; marginal cost
D. normative benefit; opportunity cost
Answer: C
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The Federal Reserve System performs many functions but its most important one is
A. providing for check clearing and collection. B. acting as fiscal agent for the U.S. government. C. issuing currency. D. controlling the money supply.
In practice
A) changes in national price levels often tell us relatively little about exchange rate movements. B) changes in national price levels raise the exchange rate. C) changes in national price levels lower the exchange rate. D) changes in national price levels often tell us about exchange rate movements. E) changes in national price levels match identical changes in the exchange rate.
Are funds available on a credit card included in a definition of the money supply?
a. Yes, because these funds can be used to pay for goods and services. b. Yes, because these funds are included in M2. c. No, because these funds are hard to measure total credit card spending. d. No, because these funds are not a store of value.
Individuals want nonexcludable public good X, but the market does not provide it because of the free rider problem. Government overcomes the free rider problem by ______________ individuals and then either producing good X itself or paying someone to produce it
A) forcing individuals to work longer hours B) taxing C) surveying D) subsidizing E) none of the above