When the interest rate rises, saving becomes ______ rewarding and borrowing becomes ______ costly.
A. less; less
B. less; more
C. more; less
D. more; more
D. more; more
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At a particular level of output, the difference between average total cost and average fixed cost is average variable cost.
Answer the following statement true (T) or false (F)
If Claire's reservation price on a sweater is $37, which of the following prices would she have to observe in the market in order to buy a sweater?
A. $37.01 B. $38.00 C. $37.00 D. Claire would not buy a sweater at any of these prices.
Another name for the contractionary phase of a business cycle is recession
a. True b. False Indicate whether the statement is true or false
If a piece of currency must be accepted for payment because the government says so, the currency is called
a. commodity money b. money backed by gold c. high-powered money d. greenbacks e. fiat money