Equilibrium in the money market exists when the quantity demanded of money equals the quantity supplied of money
Indicate whether the statement is true or false
True
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The increase in the demand for widgets, shown in the figure above, is the result of an increase in the price of McBoover devices from $9 to $11. Therefore, the cross-price elasticity for these two products is
A) -2.0. B) -0.5. C) 0.5. D) 2.0.
The principal distinction between positive analysis and normative analysis is that
A) positive analysis is useful and normative analysis is not useful. B) positive analysis is optimistic and normative analysis is neutral. C) economists always agree on the conclusions of positive analysis but could disagree on the conclusions of normative analysis. D) positive analysis tells us "what is," but normative analysis tells us "what ought to be."
In a market socialist economy
a. Resources are allocated by the market b. Property is owned by the state or by collectives c. Information is centralized d. There are no public choices e. Both a and b
Inputs for a business are the goods and services that it sells to its customers.
Answer the following statement true (T) or false (F)