An inferior good is a good for which the quantity demanded decreases as the price increases, holding everything else constant
Indicate whether the statement is true or false
FALSE
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The opportunity cost of funds is the interest that can be earned by lending the funds
Indicate whether the statement is true or false
In contrast to the United States, the European Union has chosen
A. greater wage inequality for lower unemployment. B. less wage inequality and lower unemployment. C. greater wage inequality and higher unemployment. D. similar wage inequality but more unemployment. E. less wage inequality for higher unemployment.
A financial crisis brought on by macroeconomic imbalances
A) is usually inevitable given underlying conditions. B) often happens to countries with strong international positions. C) is often preceded by capital inflows and an increase in foreign liabilities. D) is usually the result of fragility in the banking sector.
A perfectly competitive firm's short-run break-even output occurs
A. at the minimum point of its average total cost curve. B. at the intersection of its total cost curve and its marginal revenue curve. C. at the minimum point of its average variable cost curve. D. at the minimum point of its marginal cost curve.