Policies based on normative economic ideas tend to increase economic efficiency and improve equity
Indicate whether the statement is true or false
FALSE
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Coins were minted with serrated edges: a. to make it obvious that they were made of cheap alloys. b. so that cheaper metals did not have to be used
c. to allow words to be printed on the border. d. to prevent the coins from being clipped. e. to make them jingle less when they rub together.
In the nearly 200 years since Malthus wrote An Essay on the Principle of Population, what has happened to population growth rates as nations have become increasingly industrialized?
a. they have generally increased b. they have averaged zero c. they have generally fallen d. they have done exactly as Malthus forecast, outstripping the production of output
If the demand for a good is relatively inelastic, this means that consumer purchases of the good are
a. not very sensitive to the price of the good. b. highly sensitive to the price of the good. c. unrelated to the price of the good. d. unaffected by changes in the income level of consumers.
What is the impact on the foreign exchange rate?
a. The euro exchange rate declines from $1.00 per euro to $0.50 per euro.
b. The dollar price of euros decreases from $1.50 to $1.00.
c. The euro appreciates in value from $1.00 per euro to $1.50 per euro.
d. The dollar price of euros increases from $1.00 to $1.50.