Under a system of laissez faire, output selection is determined by consumers' wants
a. True
b. False
Indicate whether the statement is true or false
True
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If a price floor is removed, which of the following would be a result?
A. The elimination of surpluses B. Problems with the disposal of goods C. Disguised discounts to sell additional goods are offered by sellers D. Overinvestment in the industry
Suppose a new employee is promised a pension payment of $8000 in the twenty-fourth year after joining the firm. The current pension contribution of $1200 a year. Assuming an eight percent rate of return, this pension plan is said to be
A) fully funded. B) partly funded. C) unfunded. D) fully vested.
If the interest rate in the United States rises
A) investors increase their demand for dollars and the U.S. exchange rate appreciates. B) investors increase their demand for dollars and the U.S. exchange rate depreciates. C) investors decrease their demand for dollars and the U.S. exchange rate appreciates. D) investors decrease their demand for dollars and the U.S. exchange rate depreciates.
If butter has an income elasticity equal to 0.75, then butter is an inferior good
a. True b. False Indicate whether the statement is true or false