Suppose Bella had entered into a contract to rent Michelle's apartment for one year. The contract mentioned that if either of the two parties breached it, the other was to recover her loss. If Michelle breaches the contract, a payment which leaves Bella no worse off than if the contract was honored, is called opportunistic damage
Indicate whether the statement is true or false
F
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The basic requirement of money is that it be:
A. authorized as legal tender by the central government. B. backed by precious metals-gold or silver. C. some form of debt or credit. D. generally accepted as a medium of exchange.
Which of the following will cause a reduction in the debt-to-GDP ratio?
A) an increase in the real interest rate B) an increase in the ratio of the primary deficit to GDP C) an increase in the growth rate of output D) all of the above
The consumer optimum (for two goods, A and B) is reached when
A. TUA = TUB. B. TUA/PA = TUB/PB. C. MUA = MUB. D. MUA/PA = MUB/PB.
If the United States placed an embargo on Swedish products, what would happen in the U.S. market for Swedish furniture?
A) The supply curve would shift to the left. B) The supply curve would shift to the right. C) The demand curve would shift to the right. D) The demand curve would shift to the left.