A society's decision to produce more tanks may require it to forgo production of some cars
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is true?
A) The supply of credit and labor demand are positively correlated. B) The supply of credit and the quantity of real output are unrelated. C) The supply of credit and the quantity of real output are positively correlated. D) The supply of credit and labor demand are negatively correlated.
If self-correction causes prices to fall less than nominal wages, both output and real wages will decrease
a. True b. False Indicate whether the statement is true or false
Coffee has just been found to increase your expected life span by 5 years if you consume it every day. In the market for coffee, this information will lead to
A. an increase in price and a decrease in quantity. B. an increase in price and an increase in quantity. C. a decrease in price and a decrease in quantity. D. a decrease in price and an increase in quantity.
Refer to the information provided in Table 19.4 below to answer the question(s) that follow.Table 19.4Total IncomeTotal Taxes$10,000 $1,000 20,000 2,400 30,000 4,500 40,000 8,000Related to the Economics in Practice on page 393: Refer to Table 19.4. At an income level of $10,000, the average tax rate is
A. 1%. B. 5%. C. 10%. D. 20%.