A society without any money:
A. would have to rely on barter.
B. could never exchange goods and/or services.
C. would find people doing everything for themselves.
D. would be more efficient since people would be more self-sufficient.
Answer: A
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As demand and supply become more elastic, taxes reduce market output more and raise less tax revenue. ?
Answer the following statement true (T) or false (F)
Which of the following "factors of production" is included in the neoclassical growth theory?
A) skills and education of the workforce B) cultural attitudes toward work C) effectiveness of the legal system in protecting property rights D) labor measured in units of effective labor E) all of the above
Banks that were so large in terms of assets or customers, or so historically important, that banking regulators allowed the bank to keep operating despite insolvency after the housing market crash were called:
A. too small to fail. B. too large to succeed. C. too small to succeed. D. too large to fail.
Utility of a product is:
a) The value of a product. b) The contribution that a good or service makes to society. c) The satisfaction that a consumer obtains from a good or service. d) Any characteristic of a good or service that cannot be measured.