Since a union represents individuals rather than firms, it cannot be considered a monopoly
a. True
b. False
Indicate whether the statement is true or false
False
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How does a decrease in the federal budget deficit affect the demand for dollars and the supply of dollars on the foreign exchange market?
A) The demand for dollars falls, and the supply of dollars falls. B) The demand for dollars rises, and the supply of dollars falls. C) The demand for dollars rises, and the supply of dollars rises. D) The demand for dollars falls, and the supply of dollars rises.
A laissez faire policy is one in which
a. the government plays a major role in guiding economic activity b. the government prefers to control taxes rather than spending c. the government leaves things alone d. individuals rely on the government for guidance but not for active intervention in the economy e. businesses rely on the government for guidance but not for active intervention in the economy
There is very little economic mobility in the United States, which means that once a family is poor, it is very likely to remain poor for at least a decade
a. True b. False Indicate whether the statement is true or false
When a tax is placed on the sellers of cell phones, the size of the cell phone market
a. and the price paid by buyers both increase. b. increases, but the price paid by buyers decreases. c. decreases, but the price paid by buyers increases. d. and the price paid by buyers both decrease.