There is a strong link between changes in the money supply and inflation
A) in neither the short run nor the long run. B) in the short run, but not in the long run.
C) in the long run, but not in the short run. D) in both the short run and the long run.
C
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If a city decides to lift restrictions of how many taxi cabs can operate, social welfare will increase
What will be an ideal response?
A problem with teams is that individuals
A) are too individualistic to work with others. B) prefer piecework pay schemes. C) tend to free ride. D) none of these choices.
If a good is a normal good then
a. other things equal, no consumer will buy it b. a rise in income or wealth will increase the amount of the good that consumers will purchase c. a decline in income will increase the amount of it that consumers will purchase d. abnormal goods are never substituted for it e. normal consumers will always demand it
One reason why there may be a bias against free trade is that
a. transportation costs are too high b. absolute advantage may outweigh comparative advantage c. those who benefit from trade have little incentive to lobby for it d. the terms of trade may be too high e. people prefer importing to exporting