Rivalry means that when one person buys and consumes a product, it is not available for purchase and consumption by another person.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
If a central bank does not want to see its currency ________ in value, it may pursue expansionary monetary policy to lower the domestic interest rate, thereby ________ its currency
A) fall; strengthening B) fall; weakening C) rise; strengthening D) rise; weakening
The largest item on the liability side of the Federal Reserve's balance sheet is
A) commercial bank deposits. B) U.S. government securities. C) cash items in the process of collection. D) Federal Reserve notes outstanding.
In which zone will small shifts in AD, either to the right or the left, have relatively little effect on the output level, but instead will have greater effect on the price level?
a. Keynesian b. Neoclassical c. Intermediate d. Equilibrium