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
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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.
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.
Time lags
What will be an ideal response?
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