Government controls over market prices are often enacted to benefit a specific group.
Answer the following statement true (T) or false (F)
True
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Money serves as a standard of value, which is another way of saying that money functions as
A) a unit of accounting. B) a medium of exchange. C) an opportunity cost of investment. D) standard of deferred payment.
Wage inequality has been on the rise in virtually all high-income industrial economies since the 1970s. The causes are probably numerous, but the leading explanation for the greatest share of the increase in inequality is
A) the growth of trade with developing countries. B) the growth of trade with other high income industrial countries. C) technological change which increased the relative demand for skilled workers. D) technological change which increased the relative demand for unskilled workers. E) technological change which decreased the relative demand for skilled workers.
Persistent U.S. deflation between 1879 and the mid-1890s was primarily due to the fact that the ___________ was growing faster than the _________
a. supply of money; demand for money b. demand for money; supply of money c. demand for money; demand for goods d. demand for goods; supply of money
Basic research seeks to answer particular questions or to apply scientific discoveries to new product development
Indicate whether the statement is true or false