In a market for used cars, if the minimum supply price for plums is lower than consumers' willingness to pay for a lemon, only plums will be supplied at the consumers' willingness to pay for a lemon.

Answer the following statement true (T) or false (F)


False

Economics

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Eurodollar deposits arising from OPEC trade surpluses are called

A) OECD-dollars. B) OPEC-dollars. C) petrodollars. D) None of the above.

Economics

A point inside a production possibilities curve reflects

a. the law of increasing costs b. technological innovation c. less than full use of resources and technology d. economic efficiency e. a way to increase future economic growth

Economics

Which of the following is a merit good?

A. Health care. B. Electricity. C. Automobiles. D. Local telephone service.

Economics

You purchase a good by writing a check for $1,000. Considering the financial payments system this check follows, when is the check money? Explain.

What will be an ideal response?

Economics