The Fed has a monopoly on printing paper currency in the United States
Indicate whether the statement is true or false
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Let's assume Ben can produce 3 units of a material good (M) or 3 units of a spiritual good (S) in a day, while Cal can produce 1 M or 2 Ss in a day. Which statement below is true?
A) Ben can produce spiritual goods more efficiently than Cal. B) Cal can produce material goods more efficiently than Ben. C) Ben can produce material goods more efficiently than Cal. D) Ben can produce both material and spiritual goods more efficiently than Cal.
A retailer X that is operating at a loss gets bought out by a larger chain of department stores, which shuts down the brand, using its assets for their own brand,
a. Wealth is destroyed since the company shut down b. Wealth is created since the resources were of lesser value under the X brand and are now worth more c. Wealth is neither created nor destroyed since the total amount of resources stay the same d. None of the above
Because of diminishing returns, a factor in relatively low supply has a
a. low marginal product and a low rental price. b. low marginal product and a high rental price. c. high marginal product and a low rental price. d. high marginal product and a high rental price.
Exhibit 15-6 Aggregate demand and supply model
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In Exhibit 15-6, if the aggregate demand curve is at AD2, the government should:
A. raise taxes to move to AD1. B. not change its policy. C. cut taxes to move to AD3. D. cut spending to move to AD3.