A benefit that accrues without compensation to someone other than the person who caused it is called:
A. an external benefit.
B. a social benefit.
C. a private benefit.
D. a network benefit.
Answer: A
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Most of a typical firm’s financing comes from ______.
a. bond issues b. stock issues c. earnings reinvestment d. mutual fund sales
If real GDP equals 5,000, nominal GDP equals 10,000, and the price level equals 2, then what is velocity if the money stock equals 2,000?
A. 5 B. 2.5 C. 10 D. 2
Which one of the following is the largest component of the money supply (M1) in the United States?
A. checkable deposits B. gold certificates C. credit cards and traveler's checks D. Federal Reserve notes
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.