Binding price floors benefit sellers because they allow sellers to sell all the goods they want at a higher price
a. True
b. False
Indicate whether the statement is true or false
False
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An open economy
A) can save only by building up its capital stock. B) can save only by acquiring foreign wealth. C) cannot save either by building up its capital stock or by acquiring foreign wealth. D) can save either by building up its capital stock or by acquiring foreign wealth. E) can save by avoiding excessive imports.
In terms of price indexes, what is a COLA?
a. A measure of the quality of living b. A consumer price adjustment c. An increase in wages designed to match consumer price increases d. An estimate of gross domestic product e. A measure of producer surplus
A firm's total profit is the difference between its sales and what it pays out in costs
a. True b. False Indicate whether the statement is true or false
When the president says that "Income inequality is a much more serious economic problem than high unemployment rates," it is an example of
A. an irrational argument. B. an empirically proven fact. C. a positive statement. D. a normative statement.