Answer the following statement true (T) or false (F)
1) Market economies use capital goods because they improve productive efficiency.
2) Money functions as a medium of exchange by eliminating the need for a coincidence of
wants.
3) Consumer sovereignty means that legislation now protects the rights of consumers to dispose
of their incomes as they see fit.
4) Consumer sovereignty means that legislation now protects the rights of consumers to dispose
of their incomes as they see fit.
1) T
2) T
3) F
4) T
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Suppose in 2016, you purchase a house built in 2003. Which of the following would be included in the gross domestic product for 2016?
A) the value of the house in 2016 B) the value of the house in 2016 minus depreciation C) the value of the services of the real estate agent D) the value of the house in 2003
"Insider trading" laws are meant to prevent
A) the executives of a corporation from holding a majority of its outstanding shares. B) buying or selling shares based on information not available to the public. C) foreign investors from gaining controlling interest in U.S. corporations. D) the issuing of bonds for the purpose of buying stock.