Who was one of the first proponents of employing market economies instead of command economies?
A. Robert Heilbroner.
B. Karl Marx.
C. Jeffrey Sachs.
D. Adam Smith.
Answer: D
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The above table depicts prices, quantities, and marginal costs faced by the campus bookstore. At the profit-maximizing level of output, what is the total revenue earned by the store?
A) $12 B) $5 C) $15 D) $6
Under a fractional reserve banking system, banks have reserves of only a fraction of their total deposits
a. True b. False Indicate whether the statement is true or false
Juan purchases automobile insurance; the insurance contract is a:
A. financial instrument. B. financial intermediary. C. transfer of risk from the insurance company to Juan. D. form of money.
Firms that place their assets in the custody of a board of trustees is called a(n):
A. utility. B. oligopoly. C. trust. D. cartel.