The three most important financial centers in the world today are New York, London, and Tokyo
Indicate whether the statement is true or false
TRUE
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John Maynard Keynes attributed the "stickiness" of real wages in the early years of the depression to ______. a. the fall in the money supply. b. the tendency of people to cut wages slowly while looking for a job. c. the tendency of employers to ruthlessly replace long-time employees with theunemployed
d. resistance by workers, especially unionized workers, to wage cuts.
Activities that interest groups undertake to secure special favors from government is called rent seeking
a. True b. False
In long-run equilibrium, employment is at full employment and unemployment is at the natural rate of unemployment
a. True b. False Indicate whether the statement is true or false
You would like to purchase two products. Product A gives you 8 utils, and Product B gives you 5 utils. Both products cost the same amount, and you can purchase only one of them. If you make the rational choice, what will be the net gain of utils from your purchase?
a. 3 b. 5 c. 8 d. 13