In addition to
a. performing financial intermediation, banks are important in that they help create a medium of exchange.
b. serving as financial markets, mutual funds are important in that they help create a store of value.
c. serving as stores of value, stocks and bonds also serve as media of exchange.
d. All of the above are correct.
a
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If all opportunities for Pareto improvements have been exhausted,
a. economic efficiency has been achieved b. the allocation of goods and services is fair c. perfect competition has been achieved d. the economy is in disequilibrium e. economic inefficiency has been achieved
Changes in government spending and/or taxes as the result of legislation, is called
What will be an ideal response?
"The prisoners' dilemma" is a concept that helps us understand why
What will be an ideal response?
Total satisfaction is maximized when
A. marginal utility is zero. B. marginal utility is negative. C. marginal utility is equal to average utility. D. marginal utility is positive.