The three problems of resource allocation are faced by
a. traditional societies
b. command systems
c. centrally planned economies
d. market economies
e. all types of societies
E
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If there is an inverse relationship between variable x and variable y, then an increase in the value of variable x will be accompanied by
A) an increase in the value of variable y. B) a decrease in the value of variable y. C) no change in the value of variable y. D) variable y reaching its maximum value.
The type of credit insurance that landed AIG into trouble in 2008 is called
A) insurance rate swaps. B) monoline insurance. C) default insurance. D) credit default swaps.
If both money demand and commodity demand are unstable, as many activists believe, which type of policy target would most likely lead to a stable economy? (assume no supply-side shocks, and a fixed price level)
A) money supply target B) real GDP target C) interest rate target D) none of the above
Say you had an 8 A.M. economics class, and you only come to campus to attend your economics class. The cost of coming to the economics class would then include: a. the value of the time it took to drive to campus. b. the cost of the gasoline it took to get to campus. c. the cost of insuring the car for that day
d. a. and b.