One morning while working on an assignment, you realize that your computer is functioning very slow because of a new virus. Hence, you decide to get your computer serviced
Using this scenario, distinguish between the proximate cause and fundamental cause of getting your computer serviced.
In the given scenario, the proximate cause of getting the computer serviced is its slow functioning speed. On the other hand, the fundamental cause of getting the computer serviced is that it has been infested by a new virus, because of which the computer is functioning slowly.
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A government policymaker suggests "Double the money supply and U.S. citizens' real incomes will double." In the long run, is this policy advice correct?
What will be an ideal response?
A positive technological change will cause the quantity of a good supplied to increase
Indicate whether the statement is true or false
Which of the following is a difference between a binding and a not binding price floor?
a. A binding price floor causes a surplus in the market, while a not binding price floor causes a shortage in the market. b. A binding price floor causes a surplus in the market, while a not binding price floor has no impact on the market forces. c. A binding price floor causes a shortage in the market, while a not binding price floor has no impact on the market forces. d. A binding price floor causes a shortage in the market, while a not binding price floor causes a surplus in the market.
In an informed and voluntary exchange,
a. both parties receive something they value more than what they gave up. b. both parties place an equal value on what they received and what they gave up. c. neither party can gain more than the other. d. one trader can gain only at the expense of the other.