The rate of inflation is a topic of macroeconomics.
Answer the following statement true (T) or false (F)
True
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The opportunity cost of holding money varies with the __________.
Fill in the blank(s) with the appropriate word(s).
Suppose the larger firm of a duopoly has sales of $900 million and the smaller firm has sales of $100 million. The market share of the larger firm is
A. 90 percent. B. 80 percent. C. 20 percent. D. 10 percent.
If real disposable income fell during a particular year, we can conclude that:
A. personal taxes increased. B. inflation occurred. C. transfer payments declined. D. none of these necessarily occurred.
A consumer has been buying 3 magazines and 2 books a month for many months. The price of books then increases. To attain a new optimum, the consumer will
A) buy more magazines because they are now relatively more valuable than they were before, while continuing to buy the same number of books. B) buy more books because they are now relatively more valuable than they were before. C) buy the same number of books and magazines as before because they provide different types of utility. D) buy fewer books than before because they are relatively more expensive than they were before.