One of the consequences of allowing wages to fall in the United States has been growing wage inequality
a. True
b. False
Indicate whether the statement is true or false
True
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If products C and D are close substitutes, an increase in the price of C will
A. tend to cause the price of D to decrease. B. shift the demand curve for D to the right. C. shift the demand curves for both products to the right. D. shift the demand curve for C to the left and the demand curve for D to the right.
Banks differ from other types of businesses because banks: a. earn profits
b. combine economic resources to produce services. c. can go out of business. d. can create money. e. are regulated by the government.
What is the "medium of exchange" function of money?
A. a common measurement of the relative value of different goods and services B. the ability of money to hold value over time C. the quality of money not to be hoarded because of its commodity value D. the function of money to be widely accepted I exchange for goods and services
It is generally agreed that a major advantage of the competitive price system is the achievement of greater efficiency.
Answer the following statement true (T) or false (F)