Which statement is false?
A. During the Great Depression millions of working-class and middle-class people demanded welfare payments.
B. Until the 1930s the prevalent theory of poverty was that the poor were lazy.
C. The heritage of slavery theory explains most poverty in this country.
D. None of these statements are false.
C. The heritage of slavery theory explains most poverty in this country.
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Suppose an item sells for $125 in the United States and for 62,500 pesos in Chile. According to the law of one price, the nominal exchange rate (pesos/dollar) should be ________
A) 31,313 B) either $125, or 62,500 pesos, but not both C) 0.002 D) 500
If the exchange rate is 12.5 pesos per U.S. dollar, it is also 1/12.5 U.S. dollars per peso
a. True b. False Indicate whether the statement is true or false
Economists who use supply/demand models:
A. support the free market. B. oppose the free market. C. generally oppose the free market. D. could support or oppose the free market.
Given the equations for demand and supply: Qd = 48 ? 4P and Qs = 4P ? 16, respectively, the quantity demanded equals the quantity supplied at a price of:
A. $12. B. $4. C. $16. D. $8.