Traveler's checks are not considered to be money because they are not valid unless signed.
Indicate whether the statement is true or false.
Ans: False.
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When a society takes increasing amounts of resources and applies them to the production of a specific good, resulting in increasing opportunity costs for each additional unit produced, which of the following applies?
A) the law of demand B) the law of supply C) the law of scarcity D) the law of increasing additional costs
During a period of expansionary monetary policy
A) the price level is increased, which leads to an increase in the money supply. B) the price level is decreased, which leads to a decrease in the money supply. C) the rate of growth of the money supply is increased, leading to an increase in the price level. D) the rate of growth of the money supply is reduced, leading to a decrease in the price level.
If a huge percentage change in price leads to a small percentage change in quantity demanded, then demand is said to be elastic
a. True b. False Indicate whether the statement is true or false
The policy in which industrial production is oriented towards foreign consumers is called
A. import substitution. B. export orientation. C. import promotion. D. export promotion.