Each seller of a product is willing to sell as long as the price he or she can receive is greater than the opportunity cost of producing the product
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Checkable deposits are
A. assets of commercial banks and savings institutions. B. debts of the federal government and government agencies. C. assets of the federal government and government agencies. D. debts of commercial banks and savings institutions.
Any target value of the nominal interest rate chosen by the Federal Reserve implies a specific value for ________.
A. potential output B. the budget deficit C. government purchases D. the money supply
Given a fixed upsloping AS curve, a rightward shift of the AD curve will ________.
A. increase both the price level and real output B. cause cost-push inflation C. increase the price level but not real output D. increase real output but not the price level
Proponents of ISI assumed that governments
A) were capable of identifying and correcting market failures. B) were capable of identifying and correcting the excesses of economic populists. C) should enact orthodox stabilization plans. D) could control the terms of trade. E) Both A and D.