When consumers do not reveal their true preferences, it makes the job of estimating potential benefits much more difficult
a. True
b. False
Indicate whether the statement is true or false
True
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Larry spends all his $800 monthly income on pizza and milk. The price of pizza is $4 a slice, and the price of milk is $2 per quart. The relative price of milk is
A) 2 slices of pizza per quart. B) 0.5 slices of pizza per quart. C) $2 per quart. D) 0.5 quarts per slice of pizza.
When a country's nominal exchange rate depreciates, the price of
A) that country's goods abroad increases. B) that country's goods abroad decreases. C) foreign goods sold in the country decreases. D) that country's goods produced and sold at home decreases.
The reason that people may not want to hold money is
A) the precautionary demand for money and the risk of being robbed.
B) the opportunity cost.
C) the transactions demand makes it unnecessary.
D) due to the direct relationship between money demand and the interest rate.
A firm's short-run supply curve is its marginal cost curve above the shut-down point.
Answer the following statement true (T) or false (F)