The marginal productivity principle has relevance only in a capitalist economy, and not in a socialist system
a. True
b. False
Indicate whether the statement is true or false
False
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Although ________ currency is lighter than coins made of metals, a disadvantage arising from modern technology is the ease of ________
A) paper; transport B) commodity; counterfeiting C) fiat; transport D) paper; counterfeiting
Assume that as the wage rate rises a worker's substitution effect for leisure is larger than the income effect. We can conclude that in this region, the worker's
A) labor supply curve will be backward bending. B) labor supply curve will have the usual upward slope. C) labor supply curve will be completely inelastic. D) supply curve will be horizontal.
Which of the following is responsible for controlling the money supply in the United States?
a. The U.S. Congress. b. The Board of Governors of the Federal Reserve System. c. The U.S. Treasury. d. The Council of Economic Advisors.
The net worth of a bank
A. determines the level of bank loans possible. B. is determined by subtracting liabilities from assets. C. is determined by subtracting assets from liabilities. D. can never be a negative value.