Marginal land is land that is not worth anything under any circumstances
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following statements is true?
A) If higher water prices encourage a landlord to place bricks in the water tanks of his toilets to reduce water usage, then for him bricks are substitutes for water. B) If higher gasoline prices encourage a potential vacationer to stay at home and read a good book by the fire, rather than drive through the country, then for her firewood is a substitute for gasoline. C) Both A and B are true. D) None of the above are true.
According to research by Stock and Watson, the recent decline in volatility in many macroeconomic variables was a
A) sudden drop that occurred around 1984. B) gradual decline throughout the 1980s. C) sudden drop that occurred around 1990. D) gradual decline throughout the 1990s.
A ______ economy is an economy where government and the private sector together determine the allocation of resources.
a. traditional b. command c. mixed d. market
The purchasing power of money:
A. is not impacted by inflation, only by monetary policy. B. decreases as the price level decreases. C. decreases with inflation. D. rises when inflation rises.