Checks that people write are
A) the largest component of the money supply.
B) not money.
C) only part of M2 but not part of M1.
D) part of M1 but not part of M2.
B
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For a monopoly producing any output level greater than one, the marginal revenue curve:
A. is minimized when total revenue is maximized. B. lies above the average revenue curve. C. lies below the demand curve. D. is the same as the demand curve.
Supply tends to be more elastic in the short run and more inelastic in the long run
a. True b. False Indicate whether the statement is true or false
Government can be used to solve externality problems that are too costly for private parties to solve
a. True b. False Indicate whether the statement is true or false
Teenage unemployment is higher than unemployment of people ages 20 and over. Explain why economists would attribute at least part of this difference to minimum-wage laws