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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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
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)