Margarine and butter can both be used as a spread on toast. This means that they are:
a. independent goods.
b. complementary goods.
c. substitute goods.
d. Giffen goods.
e. inferior goods.
c
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The reason we are willing to accept money with no intrinsic value is that
A) the money supply is backed by an equal amount of gold and silver. B) we have a fiduciary monetary system in which currency has both acceptability and predictability of value. C) the value of the money varies directly with changes in the price level. D) paper currency may be exchanged for full-bodied money.
If the Fed attempts to reach and maintain very low rates of unemployment, we would expect the rate of inflation to rise
Indicate whether the statement is true or false
The U.S. Department of Health and Human Services refused to allow waivers to individual states to amend the provisions of the Family Support Act
Indicate whether the statement is true or false
If a country has a high level of growth in income, it:
A. must have a high level of income. B. must be rapidly increasing its GDP per capita. C. must have an equitable distribution of wealth. D. All of these are true.