Marginal cost is always greater than zero, regardless of the output level
Indicate whether the statement is true or false
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Economic growth would be illustrated by
A) a rightward shift of aggregate demand. B) a leftward shift of aggregate demand. C) a rightward shift of aggregate supply. D) a leftward shift of aggregate supply.
Under the modern system of fractional reserve banking, banks
a. keep cash reserves equal to only a fraction of their deposit liabilities. b. loan out their excess reserves at interest, which is the key to their profitability. c. are always potentially vulnerable to runs. d. All of the above are correct.
It is increasingly clear that technological change is the only explanation for an expanding wage gap between high-skill and low-skill workers
a. True b. False Indicate whether the statement is true or false
If an older worker earns less than a younger worker for the same job, we have proof of age discrimination
a. True b. False Indicate whether the statement is true or false