A fall in the price level will:
A. increase the value of money in people's pockets.
B. decrease the value of money in people's pockets.
C. reduce real wealth.
D. not affect the value of money in people's pockets.
Answer: A
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In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month. Now suppose that demand increases
The increase in demand results in the quantity supplied A) increasing. B) staying the same. C) decreasing. D) increasing, staying the same, or decreasing depending on how much demand increases.
Household spending on goods and services is known as
A) consumption spending. B) government purchases. C) net exports. D) planned investment spending.
The best explanation for why negative marginal product is reached at seven or more workers is that ______.
a. with seven or more workers, the shop makes more bagels than its customers want
b. six workers is the optimal staff size for a small business
c. Moe’s can only make effective use of six workers
d. Moe’s cannot make a profit with more than six workers
The costs of lead contamination have been estimated to be $1 billion for medical care of those sickened by lead, plumbing repairs, and reduced earnings of those affected by lead. This $1 billion can best be classified as:
A.) The benefits of government intervention. B.) The costs of government intervention. C.) Social costs of market failure. D.) Social costs of government failure