The relative price of a good is that price
A. expressed in constant 2020 dollars.
B. that is equal to the equilibrium price.
C. expressed in today's dollars.
D. expressed in terms of the price of another good.
Answer: D
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Other assets are inferior to money in the sense that
A) they increase in value more slowly than does money. B) they have a lower overall return than money. C) they are more vulnerable to losing their real value as inflation increases. D) they generate transactions costs when they are exchanged for money.
Taken as a whole, antipoverty programs may actually put a poor family in a position in which the family becomes worse off if its earnings rise
a. True b. False Indicate whether the statement is true or false
When the average variable cost curve is at its minimum point, average product will be:
A. at its maximum. B. decreasing. C. at its minimum. D. increasing.
In the Keynesian model in the short run, a decrease in government purchases causes output to ________ and the real interest rate to ________.
A. rise; rise B. fall; rise C. fall; fall D. rise; fall