There seems to be a correlation between the neighborhood in which people grow up and their economic prospects
Indicate whether the statement is true or false
TRUE
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If diseconomies of scale are present and the firm ________ all its inputs, its output ________
A) doubles; more than doubles B) doubles; less than doubles C) increases; increases by the same percentage D) halves; doubles
Which of the following is NOT an advantage to exchange-rate targeting?
A) It provides a strong nominal anchor to keep inflation under control. B) It provides an automatic rule for policy to help avoid the time-inconsistency problem. C) It is simple and clear so that the public can easily understand it. D) It increases the accountability of policymakers.
Because resources are scarce,
a. opportunity costs are zero b. people must make choices among alternatives c. all human wants and desires can be satisfied d. resource prices are fixed e. commodities are free
"As the price of personal computers continues to fall, demand increases." This headline is inaccurate because:
A. the statement is backwards: increased demand leads to lower prices. B. a falling price of personal computers increases the quantity demanded, not demand. C. a change in the price of personal computers shifts the demand curve. D. a change in the price of personal computers shifts the supply curve.