All items on a bank's balance sheet are stock variables
a. True
b. False
A
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Which of the following is TRUE regarding markets?
I) Economists define a market as a geographic location where trade occurs. II) A market enables buyers and sellers to get information about each other and to buy and sell from each other. III) Markets coordinate decisions through prices. A) I only B) I and III C) II and III D) I, II and III
It is difficult to make the concept of need useful because it is difficult to define and compare "needs" among people
a. True b. False Indicate whether the statement is true or false
The figure below shows the supply and demand curves for jeans in Smallville.
At the price of $60 per pair, sellers offer ________ pairs of jeans per day, and buyers wish to purchase ________ pairs of jeans a day.
A. 24; 8 B. 8; 24 C. 16; 16 D. 60; 20
The figure below shows the free-trade production and consumption in Country Y. AB is the production-possibility curve of Country Y. I1 is the community indifference curve of Country Y. Country Y imports
A. forty gallons of wine. B. fifty gallons of wine. C. seventy pounds of cheese. D. twenty pounds of cheese.