Which one of the following statements about water pricing in the United States is true?
a. As most water utilities are monopolies, they tend to make excessive profits
b. Water prices are normally set according to the average cost of providing water
c. Water prices are normally set according to the marginal water cost of providing water
d. Water prices are normally set according to the interaction of supply and demand
e. Water prices fluctuate significantly based on changes in seasonal demands
Ans: b. Water prices are normally set according to the average cost of providing water
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Which year marked a major turning point in the history of the U.S. balance of trade?
a. 1960 b. 1965 c. 1995 d. 1975 e. 2000
All of the following are included in M1 EXCEPT
A. coin and currency. B. checking account balances. C. money market mutual fund shares. D. traveler's checks.