Establishing rules for voter registration is an example of a(n)
A) economic function of government.
B) political function of government.
C) public good.
D) transfer payment.
Answer: B
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Why is it important, for an open economy, that investment not be consistently higher than saving?
What will be an ideal response?
Suppose you notice that the market for used bikes is dominated by lemons (low-quality bikes). In such a situation, if you are a buyer of used bikes, you are faced with:
A. a positive externality. B. perfect information. C. an adverse selection problem. D. symmetric information.
To produce financial stability, the Federal Reserve would want to
A. sell bonds during a recession and buy bonds during an economic boom. B. raise the money supply and cut interest rates during a recession to stimulate spending. C. increase the money supply during an economic boom and reduce the money supply during a recession. D. raise the interest rate during a recession to prevent excessive borrowing and increase income for struggling banks.
A monopoly always operates in the inelastic portion of its demand curve
Indicate whether the statement is true or false