People achieve ____ ____ when they are free to ___ with people in other countries
Fill in the blank(s) with the appropriate word(s).
Higher incomes, trade
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Wide acceptance of money without intrinsic value comes largely from the fact that it:
A. has a stable value. B. is convenient to use. C. is hard to counterfeit. D. can be used domestically and internationally.
When a payment is indexed to inflation and the price index understates inflation,
a. the real payment decreases over time b. the real payment increases over time c. the nominal payment decreases over time d. in unemployment rate will increase e. the level of unemployment will increase
If prices rise, then persons living on fixed incomes will
a. see their real incomes falling. b. see the purchasing power of their savings fall. c. need to spend more to maintain their standard of living. d. All of the above are true.
All students should go on to college.
A. True B. False C. Uncertain