Traditional economic models ________ the fact that people sometimes regret making decisions with perfectly predictable consequences.
A. can easily explain
B. are supported by
C. account for
D. cannot explain
Answer: D
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When households and businesses interact in product markets goods and services are
a. not exchanged b. flowing toward businesses c. flowing toward households d. not used at all e. flowing to both businesses and households
If the Fed lends to member banks, what happens to reserves and the money supply?
A. Reserves increase and the money supply decreases. B. Both increase. C. Reserves decrease and the money supply increases. D. Both decrease.
The Clear Plastic Company's plant discharges large quantities of toxic chemicals into some groundwater sources. Residents in the surrounding area have higher medical bills because of Clear Plastic's pollution. If the firm is forced to pay the social costs of its production
A. the amount of plastic it produces will increase in order to pay the additional costs. B. its supply curve will shift to the right. C. the price it charges for its plastic will decrease. D. it will produce less and charge more for its plastic.
A bank's net worth is the:
A. Measure of its profitability B. Value of its vault cash and loan portfolio C. Claims of its owners against the bank's assets D. Claims of its creditors against the bank's assets