Usury laws interfere with the automatic workings of the market mechanism.
Answer the following statement true (T) or false (F)
True
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If the domestic consumers of a good benefit from free trade, it suggests that the country:
A. is a net importer of that good. B. is not able to produce that good. C. is a net exporter of that good. D. has a comparative advantage in that good.
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
What does it mean for a person or nation to have a comparative advantage in producing a product?
What will be an ideal response?
A decline in money supply will lead to a(n) ________ if nominal wages are rigid
A) increase in labor demand B) fall in real wages C) fall in labor demand D) increase in real output