A price floor is a legal minimum on the price at which a good or service can be sold
a. True
b. False
Indicate whether the statement is true or false
True
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A graph shows that as fees to use ATM machines increase, people use them less frequently. The graph of this relationship would show
A) an inverse relationship. B) a negative relationship. C) a direct relationship. D) Both answers A and B are correct.
The difference between personal income and disposable income is:
A) corporate taxes B) personal taxes C) savings D) none of the above
Leakages are offset by investment and government spending in the circular flow model
a. True b. False Indicate whether the statement is true or false
If the positive externalities associated with learning by doing are sufficiently great, production will be characterized by:
A. decreasing returns to scale. B. increasing returns to scale. C. diminishing marginal productivity. D. increasing marginal productivity.