The inflation rate in the United States has always been positive
a. True
b. False
B
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If X and Y are perfect substitutes, which of the following assumptions about indifference curves is not satisfied?
A) Completeness B) Transitivity C) More is preferred to less D) Diminishing MRS E) none of the above (All of the above assumptions are satisfied.)
Which of the following statements is true of a barter system? a. In a barter system economy, no rates of exchange are defined
b. In a barter system economy, there are as many different rates of exchange as there are pairs of goods to trade. c. In a barter system economy, rates of exchange are expressed in goods per dollar. d. In a barter system economy, rates of exchange are expressed in dollars per good. e. In a barter system economy, rates of exchange are denominated in gold or silver.
The 3 key economic questions include all of the following EXCEPT:
A. "What products do we produce?" B. "How do we produce these products?" C. "Where should these products be produced?" D. "Who consumes the products?"
The capture hypothesis suggests that
A. the firms being regulated will unduly influence the regulators. B. marginal cost regulation is superior to average cost regulation. C. regulation will lead to over-entry and eventual losses for firms in the industry. D. the well-focused interests of consumers will lead to the over-regulation of most industries.