Inferior goods are low quality goods that people prefer to buy less of
a. True
b. False
Indicate whether the statement is true or false
False
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A bank's net worth is equal to its
A. liabilities minus its assets. B. profits plus its assets. C. assets plus its liabilities. D. assets minus its liabilities.
According to economic analysis, the optimal quantity of pollution exists at the point at which the
A) total benefit of pollution control is equal to the total cost. B) marginal benefit of pollution control is equal to the marginal cost. C) level of pollution is at zero. D) level of pollution is acceptable to the society.
Given the strict quantity theory of money, if the quantity of money doubled, prices would:
A. fall by half. B. double. C. remain constant. D. increase somewhat but less than double.
A closed shop is a business enterprise in which
A) employees cannot belong to a union when they are employed, and cannot join a union and keep working there. B) employees must join the union to maintain employment. C) employees must belong to the union before they can be employed. D) employees cannot belong to the union when they are hired, but may join the union later and keep their jobs.