Saving refers to ____ while savings refers to ____.

Saving refers to ____ while savings refers to ____.
 a. a stock concept; a flow concept
 b. how much is saved within a certain time period; accumulated assets
  c. a stock concept; accumulated assets
 d. how much is saved within a certain time period; a flow concept

Question 2

Other things remaining the same, if a large part of the population decided against having soda for health reasons, there would be a(n):
 a. increase in the quantity of soda supplied.
  b. increase in the quantity supplied of complements like fries and burgers.
  c. decrease in the price of soda.
  d. rightward shift of the demand curve for soda.
  e. decrease in the quantity demanded of substitutes like mineral water.

Question 3

In a market economy, the goods produced go to those who(m):
 a. have sufficient income and are willing to pay the price asked for those goods.
  b. the government views as best suited for consumption.
 c. business firms choose to favor.
 d. desire the goods the least.

Question 4

In the loanable funds market which of the following is true?
 a. Borrowers represent supply and government represents demand.
  b. Borrowers represent supply and banks represent demand.
 c. Banks represent supply and savers represent demand.
 d. Savers represent supply and borrowers represent demand.

Question 5

Other things remaining unchanged, which of the following is most likely to cause an increase in the demand for personal computers?
 a. A reduction in the price of personal computers
  b. An increase in the supply of personal computers
  c. An increase in the cost of computer printing ink
  d. An increase in the number of computer manufacturers
  e. A requirement by universities that all students buy personal computers

Question 6

A market economy depends on market mechanisms to:
 a. determine the most efficient way of using resources.
 b. determine how large the government's budget deficit should be.
  c. decide how much government regulation there should be.
 d. provide everyone with a minimum level of income.

Question 7

Which of the following is a method by which a firm can obtain financial resources to invest in capital?
 a. use of retained earnings
 b. borrowing from financial intermediaries
  c. selling stocks or bonds
 d. all of the above

Question 8

Which of the following will have no impact on the demand for ice cream in the short run?
 a. A change in population size
  b. A change in the price of ice cream
  c. A change in seasons
  d. A change in consumer preferences
  e. A change in consumer incomes

Question 9

Which concept explains how individual consumers in market economies determine what is to be produced?
 a. competition
 b. consumer sovereignty
 c. decentralized decision-making
  d. free enterprise

Question 10

A rational individual would rather receive 5,000 today than receive 6,000 in one year if the applicable nominal interest rate was 10.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 11

Which of the following will cause an increase in the quantity demanded of ice cream at an ice cream store?
 a. The onset of summer brings about an increase in the temperature.
  b. The price of frozen yogurt that is sold at the store is reduced by 5 percent.
  c. A new ice cream flavor is introduced at the store.
  d. The store introduces a limited period offer of 20 percent off on the price of ice cream.
  e. The income of the store's consumers increases.

Question 12

A market system:
 a. produces answers to a society's what and who questions, but not the for whom question.
  b. produces answers to a society's what and for whom questions, but not the how question.
  c. produces answers to a society's how and for whom questions, but not the what question.
  d. produces answers to a society's what, how, and for whom questions.

Question 13

A rational individual would rather receive 1,000 today than receive 1,100 in one year if the applicable nominal interest rate was 12.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 14

Which of the following would lead to a rightward shift in the demand curve for golf balls?
 a. An increase in the price of golf clubs
  b. A decrease in the popularity of golf
  c. An increase in the number of golfers
  d. A decrease in the price of golf balls
  e. An increase in the golf club membership fee