When people refuse to pay down debt with their savings:
A. they are forgetting that money is fungible.
B. they are acting irrationally.
C. they will be poorer in the long run.
D. All of these are true.
Answer: D
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A section of Chapter 13 is called "Who Regulates the Regulators?" This section describes how some
a. pricing rules are chosen b. industries are protected by their regulators c. people are regulators and board members simultaneously d. ICC employees work for the FCC e. railroads captured the CAB
A closed shop and a union shop differ primarily in that
a. nonunion workers can retain employment in a union shop, but not in a closed shop b. nonunion workers can retain employment in a closed shop, but not in a union shop c. union members are not permitted to work in a closed shop, and a worker must be a union member to work in a union shop d. in a closed shop, workers must be union members before they are hired but not in a union shop e. workers must first be union members to work in a union shop
Deadweight loss measures the loss in society's welfare that occurs because a monopolist can earn profits without the concern of new firms entering its industry
a. True b. False Indicate whether the statement is true or false
Leader countries that experience modern economic growth early on will always grow faster than follower countries.
a. true b. false