The euro is the common currency of all European countries
a. True
b. False
Indicate whether the statement is true or false
False
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If market prices help inform individuals about the relative scarcities of goods and services, then abolishing market prices would
A) finally allow people to overcome scarcity. B) eliminate important information. C) abolish the dog-eat-dog mentality of market competition. D) tend to create permanent surpluses of most goods. E) accomplish all of the above.
One difference between the federal government budget and state and local budgets is that
a. deficits in state and local governments average zero over longer periods of time. b. cyclical deficits are zero for state and local governments. c. state and local governments typically run surpluses. d. both a and b. e. none of the above.
Which of the following is the Fed's most common way to change the money supply?
a. Moral suasion b. The discount rate c. The required reserve rate d. Open market operations
An efficient outcome can always be reached by requiring the individual who produces the externality to fully compensate individuals for any damage inflicted.
Answer the following statement true (T) or false (F)