Gresham's Law:
a. applies only to bimetalism issues.
b. applies only to monetary issues in general.
c. applies to a wide variety of situations.
d. is only understood after taking graduate-level courses.
c. applies to a wide variety of situations.
You might also like to view...
Within a monopolistically competitive industry
A) firms can freely enter and exit and economic profits are zero in the long run. B) firms can freely enter and exit and economic profits are greater than zero in the long run. C) there are some barriers to entry and exit and economic profits are zero in the long run. D) there are some barriers to entry and exit and economic profits are greater than zero in the long run.
At a price of $4.95, a pulp fiction novel is expected to sell 9,000 copies. If the novel is offered for sale at a price of $3.95, then the publisher can expect to sell
a. It is impossible to predict the effect of a lower price on sales. b. less than 9,000 copies. c. 9,000 copies. d. more than 9,000 copies
If the marginal product of labor is always positive, and total revenue grows with each additional worker. Firms do not continuously hire new workers because:
A. there isn't enough room in the factory. B. there isn't an infinite number of workers. C. wages would have to increase. D. they stop when MRP = wage
In order to ________, a government must increase spending and decrease taxation.
A. increase aggregate demand B. decrease aggregate demand C. increase aggregate supply D. decrease aggregate supply