Nondiscriminatory firms hiring in the market place have a cost advantage
a. True
b. False
Indicate whether the statement is true or false
True
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At the beginning of the year, Becky's wealth was $30,000. During the year, she earned $50,000 of income, paid $6,000 in taxes and consumed $43,000 of goods and services. What is Becky's wealth at the end of the year?
What will be an ideal response?
A line that is perfectly elastic has an elasticity of demand of zero
a. True b. False Indicate whether the statement is true or false
Critics of macroeconomic stabilization policies argue that
a. economists are unable to influence policy. b. stabilization policies often do more harm than good. c. stabilization theory has no practical effect. d. policy makers need practical advice, not theory.
The exchange rate is the:
A. value of one currency expressed in terms of the goods and services it can buy. B. value of currency adjusted for inflation. C. value of one currency expressed in terms of another currency. D. reciprocal of the currency's real value.