The quantity theory of money indicates that in any country the money supply is equated to the demand for money, which is inversely proportional to the money value of the gross domestic product.
Answer the following statement true (T) or false (F)
False
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When the marginal product curve is downward sloping, the average product curve
A) must also be downward sloping. B) might be either upward or downward sloping. C) must be upward sloping. D) must be horizontal.
For which of the following products would price discrimination be most difficult?
a. photograph developing b. tooth extractions c. airline tickets d. beer e. college education
People with hidden health problems are more likely to buy health insurance than other people. As a result, people in average health may observe the high prices of insurance and decide not to buy it. This is an example of
When a market clearing price is determined
A. the exchange between buyers and sellers is directed by outside factors such as the government. B. the exchange between buyers and sellers is voluntary. C. the exchange between buyers and sellers benefits only the buyers. D. the exchange between buyers and sellers benefits only the sellers.