If everyone's utility function includes only conspicuous consumption goods:
A. the market will lead to higher social welfare than it otherwise would.
B. the market will lead to lower social welfare than it otherwise would.
C. we can say nothing about market and social welfare.
D. the market will lead to the highest social welfare.
Answer: C
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Commodities that typically last three years or more are called:
A) durable goods. B) nondurable goods. C) services. D) none of the above.
Keynes was especially concerned with explaining the ________ level of output and employment during the ________
A) low; 1920s B) low; 1930s C) high; 1920s D) high; 1930s
Banks are not allowed to hold reserves in excess of those required by law
a. True b. False
Regulations are a major constraint on deposit creation.
Answer the following statement true (T) or false (F)