Which of the following currencies has been replaced by the euro?
A) The French franc
B) The Swiss franc
C) The British pound
D) The Swedish krona
A
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Which of the following will result in a decrease in a consumer's purchasing power?
A) A decrease in the consumer's income B) An increase in the price of the good on the vertical axis C) An increase in the price of the good on the horizontal axis D) all of the above
In a market system, intermediaries in the exchange process are known as
A) producers. B) consumers. C) middlemen. D) free agents.
Teenage unemployment rates have consistently been much higher than the overall unemployment rate and black teenagers have fared worse than white teenagers
a. True b. False Indicate whether the statement is true or false
Consider the accompanying figure representing the labor market below.
In the absence of any government intervention, the equilibrium wage is ________ per hour, and the equilibrium employment level is ________ workers per hour.
A. $4; 200 B. $12; 200 C. $8; 400 D. $12; 600