Abstract terms like "cost of living" and "price level" are meaningless to ordinary individuals
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
When people’s income increases, demand for science fiction novels increases. The novels are
a. an inferior good. b. substitutes. c. a normal good. d. regular goods.
Firms that are involved in more than one type of business could be evidence of an attempt to
a. increase private profit at the expense of consumers. b. internalize some forms of positive externalities. c. reduce the impact of government regulations on their business. d. increase the private marginal cost of production.
All of the following countries have been described as socialist economies, except
A. Norway. B. France. C. Sweden. D. The United States.
Which of the following is a microeconomic question?
A. Should companies pay for employees' health insurance? B. Why do some countries have higher economic growth rates than other countries? C. Should Congress and the president take action to reduce the unemployment rate? D. Should the Fed attempt to influence the interest rate to control potential inflation?