Demand deposits are included as part of:
a) only M1.
b) only M2.
c) neither M1 nor M2.
d) M1 and M2.
Ans: d) M1 and M2.
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Refer to Table 2-12. If the two countries specialize and trade, who should export sailboats?
A) There is no basis for trade between the two countries. B) Guatemala C) They should both be importing sailboats. D) Honduras
Which of the following is a method for solving the problem of adverse selection?
A) truth in advertising laws B) product liability laws C) food labeling requirements D) All of the above.
Economist David Ricardo argued that rent
a. is unethical b. would be higher if the country opened its doors to international trade c. determines the value of the goods produced with the asset d. depends on price and not, as commonly thought, price depends on rent e. can only be earned on land
In a market economy, opportunity costs are always synonymous with explicit monetary costs.
Answer the following statement true (T) or false (F)