During the 2009-2010 stimulus debate, Republicans argued that increases in government spending would be more effective than decreases in taxes
a. True
b. False
Indicate whether the statement is true or false
False
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Other things constant, which of the following is likely to increase the supply of wheat?
A) an increase in the cost of fertilizer B) a decrease in the price of bread C) a decrease in the price of corn D) an increase in land prices E) an expectation that the price of wheat will be higher in the near future
The U.S. Postal Service engages in price discrimination
a. True b. False Indicate whether the statement is true or false
A modern economy is one where: a. there is no medium of exchange
b. a single seller controls the production of all goods and services. c. every individual interacts with thousands of other individuals to receive the goods they need to survive. d. international trade does not take place.
Perfect competition is characterized by all of the following EXCEPT
a. a large number of buyers and sellers. b. identical products. c. sellers acting together to set prices. d. well-informed buyers and sellers.