Because of scarcity, we attempt to utilize our resources as efficiently as possible
a. True
b. False
Indicate whether the statement is true or false
True
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In colonial America, work
(a) was required, at least for the lower classes, even for whites not bound in servitude. (b) was required of all classes, wealthy or poor, slaves or free. (c) was the decision of the individual, like it is today, except for slaves and indentured servants. (d) was thought to be for the "colored" races, with white folks exploiting their labor.
Which pair of goods is most likely to have a negative cross-price elasticity?
A. All cross-price elasticities are negative, but often reported in absolute value. B. Peanut butter and jelly. C. Butter and margarine. D. Milk and pencils.
In the long run, the currency of a country that has a higher inflation rate will appreciate against the currency of a country whose inflation rate is lower
a. True b. False
Approximately what percentage of state and local expenditures do bond referenda account for?
A. 25 percent. B. 50 percent. C. 10 percent. D. Less than 1 percent.