If gold is used as money in an economy, the money supply is easy to control
Indicate whether the statement is true or false
FALSE
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Adding wages, interest, rent, and profits yields
A) net domestic product at factor cost. B) gross domestic product at factor cost. C) total expenditure. D) GNP. E) gross domestic product.
Producer surplus is the:
A) sum of a seller's reservation value and the price he finally receives. B) difference between a seller's reservation value and the price he finally receives. C) product of a seller's reservation value and the price he finally receives. D) ratio of a seller's reservation value to the price he finally receives.
Suppose a British bank offers a 3 percent interest rate while a U.S. bank offers a 7 percent interest rate. People must expect the U.S. dollar will
A) depreciate 4 percent. B) appreciate 4 percent. C) appreciate 10 percent. D) depreciate 10 percent.
If a per-unit tax on output sold is imposed on a monopoly's product, the monopolist will increase its market price by the full amount of the tax
Indicate whether the statement is true or false