Contracts are typically necessary when the agreed upon exchange occurs
A. simultaneously.
B. at a different time.
C. in a different place.
D. in a different country.
Answer: B
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Unlike economic profit, economic rent:
A. only applies to land. B. may not be driven to zero by competition. C. doesn't involve opportunity costs. D. can be less than zero.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
A bank has total assets of $3,000,000. Of these assets, $200,000 are cash and $300,000 are Treasury securities
Furthermore, the bank holds municipal revenue bonds of $600,000, residential mortgages of $1,000,000, and consumer and commercial loans of $900,000. This bank's risk-adjusted assets are A) $3,000,000. B) $1,900,000. C) $1,250,000. D) $1,070,000.
President Reagan was attracted to the theories expounded by the
a. classical school b. Keynesian school c. neo-Keynesian school d. rational expectations school e. supply-side school