Finding the occupation or business activity in which you are relatively more productive helps you earn more money than otherwise would be the case. This reflects the
What will be an ideal response?
law of comparative advantage.
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The Second National Bank of Townville has $400,000 in checking deposits, $125,000 in savings deposits, $500,000 in loans, $20,000 in its reserve account at the Fed, and $5,000 of currency in its vault
What is the amount of these assets and liabilities that is in M1?
Which of the Fed's instruments is most frequently used?
A) Changing reserve requirements B) Open-market operations C) Changing the discount rate D) Changing margin requirements for the stock market
As the differences in opportunity costs between the U.S. and its trading partners increase, the potential gains from specialization and trade ________.
A. decrease B. stay the same C. become unpredictable D. increase
The goal of health insurance is to:
a. equally distribute the probability of loss over a large number of people. b. spread risk over a large group of people. c. redistribute income from the sick to the healthy. d. collect sufficient premiums to cover all possible losses. e. equalize the availability of medical care across population groups.