What is a mutual fund?
An institution that sells shares to the public and uses the proceeds to buy a portfolio of stocks and bonds.
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The principle economic cost of growth is
A. higher inflation rates. B. higher interest rates. C. investment in stocks and bonds. D. current consumption sacrificed for capital formation.
When one person enjoys the benefit of a tornado siren, she reduces the benefit to others
a. True b. False Indicate whether the statement is true or false
Which of the following is most likely to reduce the consumption of an exhaustible natural resource?
A. A decrease in monopoly control of the market for the resource B. Government tax policies that give tax breaks to entrepreneurs who search for new reserves of the resource C. Implementation of a price ceiling for the resource below its equilibrium price D. Government macroeconomic policies that lower the interest rate on bonds
Which of the following examples could be used to determine the value of a good for GDP?
a. A good has a 3-year warranty. b. A good sells for $10 on the market. c. A good has 8 substitutes. d. A good costs $5 to produce.