Which of the following best expresses the law of demand?
What will be an ideal response?
The inverse relationship between the price of a good and the quantity demanded.
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Checkable deposits are not classified as money because they fail to provide a store of value
a. True b. False Indicate whether the statement is true or false
Unemployment insurance is often criticized because workers can extend the amount of time they are unemployed and thus increase the cost of the program. This phenomenon is best described as
a. rent-seeking behavior. b. moral hazard. c. free riding.
Which of the following is true?
a. Efficiency refers to the size of the economic pie; equality refers to how the pie is divided. b. Government policies usually improve upon both equality and efficiency. c. As long as the economic pie continually gets larger, no one will have to go hungry. d. Efficiency and equality can both be achieved if the economic pie is cut into equal pieces.
The concept that a dollar today is worth more than a dollar in the future is called
A. the net productivity of capital. B. economic rent. C. present value. D. the capitalization of assets.