Any point on the lowest indifference curve is preferable to a point on a higher indifference curve.
Answer the following statement true (T) or false (F)
False
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In the United States, the dollar was commodity backed by:
A. silver. B. oil. C. diamonds. D. gold.
The 1996 Farm Act moved farming closer to the realities of the market system.
Answer the following statement true (T) or false (F)
All of the following are functions of the Federal Reserve System EXCEPT
A. acting as the government's fiscal agent. B. supplying the economy with fiduciary currency. C. lending funds to risky customers denied credit by commercial banks. D. providing a system of check collection and clearing.
Frederic Bastiat's Petition of the Candlemakers most directly refutes which of the following arguments for protectionism?
A. Increased domestic employment argument. B. Infant industry argument. C. Cheap foreign labor argument. D. Diversification-for-stability argument.