Bob has heard rumors that his employer will be merging with another firm and many employees may lose their jobs, and he wants to be prepared in case he loses his job. If he begins to save more in response to this rumor, it is a ________ reason for saving.
A. private
B. precautionary
C. public
D. life-cycle
Answer: B
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Which of the following displays rivalry and excludability in consumption?
A) public goods B) private goods C) quasi-public goods D) common resources
Which of the following is a liability of the Fed?
A) U.S. government securities B) currency in circulation C) discount loans to banks D) checkable deposits in commercial banks
The common measure of wealth used in calculating the distribution of wealth includes
A) workers' claims on the Social Security system. B) workers' claims on private pension funds. C) financial assets. D) human capital.
Industrial market countries make up about _____ of the world population but produce more than _____ of the world's output
a. 16 percent; 50 percent b. 40 percent; 75 percent c. 40 percent; 58 percent d. 55 percent; 65 percent e. 38 percent; 55 percent