The use of money makes us more efficient because:
A. we spend more time trading and more time producing.
B. people can specialize in what they do well.
C. money increases in value over time.
D. with money we borrow less.
Answer: B
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The Bank of Techland is the largest bank in Techland. Which of the following is likely to be true if this bank fails?
A) Real interest rates in Techland will fall. B) Labor supply in Techland will fall. C) Real wages in Techland will remain unchanged. D) Techland's output will fall.
Federal affirmative action programs are mandatory for all public and private workplaces
Indicate whether the statement is true or false
As the stock of a depletable resource falls, its user cost
A) rises. B) falls. C) is unchanged, but its price rises. D) is unchanged, but the extraction cost rises. E) is unchanged, but its true cost rises.
Perfect Competition is an industry in which there is only one supplier of a product that has no close substitutes.
Answer the following statement true (T) or false (F)