Robbery reduces economic efficiency by
a. creating voluntary exchanges
b. decreasing government spending
c. increasing unemployment
d. creating involuntary exchanges
e. lowering the number of potential Pareto improvements
D
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Topic Market failure, Difficulty M, Type RE, Answer c Which of the following is not an example of market failure?
a. Lack of competition. b. Externalities. c. Equilibrium. d. Extreme income inequality.
The difference between M1 and M2 is given by which of the following?
a. M1 is limited to checkable deposits, whereas M2 contains currency. b. M1 is made up of currency and checkable deposits, whereas M2 contains M1 plus savings deposits and small time deposits. c. M1 includes only currency, whereas M2 contains M1 plus checkable deposits. d. M1 includes currency, coins, gold and silver, whereas M2 does not contain gold and silver.