In which of the following markets do firms sell the same standardized product?

A. Four-door cars
B. Desktop computers
C. 2% milk
D. Sandwiches


Answer: C

Economics

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Dennis notices that jackets are on sale for $99. In this case money is functioning as a

A) medium of exchange. B) unit of account. C) store of value. D) payments-system ruler.

Economics

Keynesian economists believed that the prolonged unemployment of the 1930s was the result of

a. the sharp reduction in the supply of money during 1929-1933 and another monetary contraction in 1938. b. the high interest rates of the 1930s. c. the double-digit inflation of the 1930s. d. insufficient aggregate demand and the failure of market forces to direct the economy back to full employment.

Economics

Time lags

What will be an ideal response?

Economics

In a typical month of expansion, the U.S. economy sheds about 3.8 million jobs but creates only 2.8 million new ones

Indicate whether the statement is true or false

Economics