If a fair coin is tossed, the probability of coming up with either a head or a tail is:
A. 1/2 or 50 percent.
B. Unquantifiable.
C. Zero.
D. 1 or 100 percent.
Answer: D
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As long as people have confidence that paper money will serve the functions of money, then it can serve the function of money
Indicate whether the statement is true or false
The estimated demand for a good X is 
= 70 - 3.5P - 0.6M + 4PZ, where 
= units of the good, P = price of the good, M = income, and PZ = price of related good Z. All parameter estimates are statistically significant. Which of the following statements is correct?
A. X is a normal good. B. X is an inferior good. C. X and Z are substitutes. D. X and Z are complements. E. both b and c
Explain how firms use elasticity and revenue to make decisions
What will be an ideal response?
According to the consumption function, if the level of real disposable income increases, then
A. the level of consumption will increase but the level of saving will decrease. B. both the levels of consumption and savings will decrease. C. both the levels of consumption and savings will increase. D. the level of consumption will decrease but the level of saving will increase.