The biggest advantage of capitalism is that
a. It generates wealth with the help of government intervention
b. Prices hinder in moving assets from high-value to low-value uses
c. It forces involuntary exchanges
d. It creates wealth by letting a person follow his or her own self-interest
d
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The total value of U.S. Treasury bonds outstanding equals
A) the federal government deficit. B) the cyclically adjusted budget deficit. C) the federal government surplus. D) the federal government debt.
The price of a new car is $40,000 while the price of a five-year old car of the same brand is $16,000. The next year the price of the new car increases to $44,000 and the price of a five-year old car of the same brand is $17,600
The relative price of the used car A) decreased by $2,400. B) decreased by 10 percent. C) increased by 10 percent. D) remained constant at 0.4.