As the prevailing interest rate decreases, the opportunity cost of spending money
A. Decreases for both saver and borrower.
B. Increases for both saver and borrower.
C. Increases for the borrower and decreases for the saver.
D. Decreases for the borrower and increases for the saver.
Answer: A
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Which of the following statements about international trade restrictions is true?
a. They ensure that only efficient producers survive. b. They ensure that countries specialize only in those products that they can produce most efficiently. c. They harm domestic consumers in the majority of cases. d. They typically benefit foreign producers at the expense of domestic consumers. e. They ensure that higher-quality goods are provided at lower prices.
A price floor set above the equilibrium price is binding
a. True b. False Indicate whether the statement is true or false
Real GDP is important because it is highly correlated with other measures of economic activity.
Select whether the statement is true or false. A. True B. False
In economics, the term foreign exchange trading means
A) buying and selling foreign goods. B) buying and selling foreign services. C) buying and selling foreign assets (such as, real estate). D) buying and selling foreign currencies.