Which of the following is false?
a. Markets can make products better
b. Markets can make products cheaper.
c. Markets can create new products.
d. Markets only result in producing those goods and services that are socially desirable.
d
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If the price of lattes, a normal good you enjoy, falls, then
A) the income effect which causes you to increase your latte consumption outweighs the substitution effect which causes you to reduce your latte consumption, resulting in more lattes purchased. B) the income and substitution effects offset each other but the price effect leads you to buy more lattes. C) both the income and substitution effects lead you to buy more lattes. D) the substitution effect which causes you to increase your latte consumption outweighs the income effect which causes you to reduce your latte consumption, resulting in more lattes purchased.
A sharp increase in stock prices makes people much wealthier. If the main effect of this increased wealth is felt on labor supply, what happens to current employment and the real wage rate?
A) Both employment and the real wage rate would increase. B) Both employment and the real wage rate would decrease. C) Employment would increase and the real wage would decrease. D) Employment would decrease and the real wage would increase.
External debt is that portion of the national debt
a. owed to investors outside the United States (foreign investors). b. owed to the Federal Reserve system. c. that the U.S. does not intend to repay. d. owed to U.S. citizens and corporations.
Which statement is correct?
a. The discount rate is the rate banks charge one another on overnight loans b. The Federal funds rate is the rate banks charge their most creditworthy customers c. The real interest rate is greater than the nominal interest rate during periods of inflation d. The prime interest rate rises and falls with the Federal funds rate