An individual's supply curve is backward bending
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is NOT considered a function of money?
A) It facilitates exchange. B) It acts as a means of payment. C) It can be held and exchanged for future goods and services. D) It allows banks to lend out funds.
Comment on the following statement: "If one player in the game does not have a dominant strategy, it is impossible to predict the outcome of the game."
What will be an ideal response?
Which of the following type of shops is unlawful under the provisions of the Taft-Hartley Act?
A) union shops B) closed shops C) modified union shops D) open shops
Which of the following will bring about an inward shift of a production possibilities curve [PPC]?
a. A decrease in the amount of resource employment b. An increase in the working-age population c. An increase in unemployment d. A decrease in the availability of natural resources e. An increase in the amount of capital available