Taxes are the only mechanism by which the federal government earns money
Indicate whether the statement is true or false
FALSE
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Last year the price level increased from 118 to 122. The increase in the price level leads to a decrease in
A) potential GDP. B) the money wage rate. C) the buying power of money. D) the real interest rate. E) the price of domestic goods and services relative to foreign goods and services.
Applying a uniform markup to each of a firm's products is less profitable than varying the markup based on the elasticity of demand because the latter is able to exploit the sensitivity of quantity demanded to a change price
Indicate whether the statement is true or false
Choose the statement about an effective minimum wage that is correct.
A. The minimum wage is a fair rule because otherwise? low-skill workers would earn a lower wage. B. The minimum wage imposes a fair rule because it is legislated by the government and passed into law by majority rule. C. The result of the minimum wage is fair because those who find jobs are the least well off. D. The result of the minimum wage is unfair because only those people who have jobs and keep them benefit from the minimum wage.
Insurance companies perform all of the following functions performed by financial intermediaries except:
A. pooling the resources of small savers. B. transferring risk. C. supplying liquidity. D. making large investments.