High inflation in Zimbabwe in 2009 was a result of the Zimbabwean government's printing too much money.
a. true
b. false
Answer: a. true
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The demand for goods reflects people's values
A) and so does the supply of goods. B) but the supply of goods rests on objective realities rather than values. C) insofar as they are material values. D) insofar as they can be satisfied by spending money. E) insofar as the demand is completely inelastic.
The statement that "peach ice cream is better than chocolate ice cream"
A) can be tested using the scientific approach. B) is a normative statement. C) is a positive statement. D) provides a basis for predicting which type of ice cream will exhibit the most sales.
The distribution of income in the United States became more unequal in the 1990s. One explanation for this trend is that advances in information technologies have ________ low-skilled labor and ________ high-skilled labor
A) decreased the demand for; increased the demand for B) increased the demand for; decreased the demand for C) decreased the supply of; increased the supply of D) increased the supply of; decreased the supply of
Subsistence production is
a. produced on the farm for a city market b. produced for export c. produced for sale to neighboring villages d. produced for consumption by the producer e. none of the above.