Paper money is a good example of commodity money
a. True
b. False
Indicate whether the statement is true or false
False
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Explain why firms in a cartel might lobby for government regulation.
What will be an ideal response?
In September 2006, the Food and Drug Administration recommended that Americans avoid eating bagged raw spinach in the wake of an outbreak of E. coli bacteria
Following this recommendation, the food industry looked at alternatives and many turned to arugula. One Chicago distributor claimed, "The sale of the stuff has gone through the roof." Based on this information A) the cross-price elasticity between arugula and spinach is negative. B) the cross-price elasticity between arugula and spinach is positive. C) the price elasticity of arugula is positive while the price elasticity of spinach falls to zero. D) arugula is a normal good while raw spinach is an inferior good.
The aggregate demand curve shows
a. the quantity of goods and services that households, firms, and the government want to buy at each price level. b. the quantity of goods and services that households, firms, and the government want to buy at each interest rate. c. the quantity of goods and services that households (not firms) want to buy at each price level. d. the quantity of goods and services that firms (not households) want to buy at each interest rate. e. none of the above.
Which of the following are examples of non-rival and exclusive goods?
a. public swimming pool b. golf course c. subways d. all of the above goods are non-rival and exclusive