Which of the following goods is least likely to be in a market basket?
A. A missile
B. A gallon of milk
C. A tank of heating oil
D. A pair of khaki pants
Answer: A
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The truth of the MPP=MRP condition has been implicitly accepted by most businesses while not explicitly recognizing its legitimacy
Indicate whether the statement is true or false
The money supply will grow even larger through deposit creation when
A. People decide to use cash instead of checks for transactions. B. Interest rates rise, causing people to move money out of banks and into bonds. C. Banks stop making new loans because they are too risky. D. Consumers, businesses, and government increasing their borrowing.
If a country’s productivity doubles for everything it produces, this will not alter its prior pattern of specialization because it has not altered its comparative advantage.
Answer the following statement true (T) or false (F)
The only rental house available at your favorite lake on July 4th is out of your price range. This is an example of:
A. a resource constraint. B. why you should have a yard sale. C. an infringement upon your freedoms enjoyed as a patriotic American. D. why everyone isn't already doing it.