Which of the following is true of the U.S. government?
a. The government in the United States takes the form of a single-party state where opposition parties are not legally allowed to take power.
b. The size of the federal government in the U.S. has been declining since 1930.
c. Employment in the government sector currently exceeds employment in the manufacturing sector.
d. The U.S. federal government plays a much smaller role than state and local government due to states' rights.
e. The service sector of the U.S. economy employs more number of people than the U.S. government.
c
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There is __________ problem with deposit insurance as the insurer shares disproportionately in the __________ risk of banking
A) an adverse selection; upside B) an adverse selection; downside C) a moral hazard; upside D) a moral hazard; downside
A perfectly competitive firm's supply curve is the portion of the:
a. TC curve that lies above the TR curve. b. MR curve that lies above the MC curve. c. AFC curve that lies above the AR curve. d. AVC curve that lies above the ATC curve. e. MC curve that lies above the AVC curve.
If quantity demanded is greater than quantity supplied, then
a. an excess supply exists b. the market is in equilibrium c. the price will rise d. the supply curve must be vertical e. there will be no tendency for the situation to change
In winter, Europeans and Americans flock to Switzerland to ski. We would expect to see the Swiss franc
a. depreciate because there is an increase in the demand for Swiss goods and services, which means an increase in the demand for Swiss francs b. appreciate because there is an increase in the demand for Swiss goods and services, which means a decrease in the demand for Swiss francs c. remain fixed because the demand for Swiss goods and services is counterbalanced by the supply of Swiss goods and services d. appreciate because there is an increase in the demand for Swiss goods and services, which means an increase in the demand for Swiss francs e. restored to equilibrium because the summer months see Swiss tourists in Europe and the U.S.