A real quantity is a quantity measured:
A. by the average quantity.
B. using real prices.
C. in terms of current dollar value.
D. in physical terms.
Answer: D
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To make things simpler and focus attention on what really matters, economists
A) use assumptions. B) respond to incentives. C) think at the margin. D) ignore all variables.
Legal immigration to the United States peaked just before World War I, but today is almost zero
Indicate whether the statement is true or false
A decrease in the current minimum wage would: a. decrease employment for low skill workers
b. increase firm's demand curves for low skill workers. c. increase the supply of low skill workers. d. decrease the incomes of some low skill workers.
The maximum percentage of a stock's value that can be used as collateral to borrow from a bank is known as the
a. discount rate b. federal funds rate c. reserve requirement d. margin requirement e. ancillary suasion