If nothing else changes but the velocity of money doubles in the economy, the price level will decrease
Indicate whether the statement is true or false
F
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When a nation removes restrictions on imported products we will see
A. an increase in consumer surplus and a decrease in producer surplus. B. a decrease in consumer surplus and an increase in producer surplus. C. an increase in consumer surplus and an increase in producer surplus. D. a decrease in consumer surplus and an decrease in producer surplus.
The city of Logan Square needs $40 million for a network of streetlights. There are 20,000 residents in the Logan Square neighborhood, meaning the cost for each resident is $2,000. Mr. Miller refuses to donate $2,000 towards the project. This is an example of the problems encountered with:
A. consumer goods. B. capital goods. C. private goods. D. public goods.
The European Currency Unit (ECU) acted as a means of payment
Indicate whether the statement is true or false
Under which of the following sets of circumstances is it definitely the case that the average product increases as more labor is hired?
A) Total product increases as more labor is hired. B) The marginal product is equal to the average product. C) The marginal product is positive. D) The marginal product is greater than the average product. E) The marginal product is less than the average product.