Indicate whether the inputs below are variable (V) or fixed (F) in the short run
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When a market is in surplus, there is pressure for the price to move upward
a. True b. False Indicate whether the statement is true or false
Jaime’s cross price elasticity of science fiction and mystery novels is -4. This means that the novels are
a. compliments. b. normal. c. substitutes. d. inferior.
According to the U.S. Secret Service, approximately $2.6 billion of U.S. paper currency in circulation is counterfeit. Undetected counterfeit currency which is spent and circulated in the marketplace is an example of the counterfeit currency being used as a:
A. medium of exchange. B. commodity money. C. store of value. D. bank reserve.
During fiscal year 2017, the most recent mentioned in the text, the federal government spent approximately
A. $1.2 billion. B. $1.9 trillion. C. $4.0 trillion. D. $15.0 trillion.