U.S. currency continues to be backed by the gold standard to this day
Indicate whether the statement is true or false
FALSE
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Holding other factors constant, if growing concerns about job security raise precautionary saving, then the real interest rate will ________ and the equilibrium quantity of national saving and investment will ________.
A. increase; increase B. decrease; decrease C. decrease; increase D. increase; decrease
If the average price level falls, the real value of wealth also falls
a. True b. False Indicate whether the statement is true or false
Pension plans can be thought of as the opposite of life insurance because life insurance:
A. pays off when you die while the pension plan pays off if you don't. B. costs far more than pension plans. C. pools the savings of many and pension plans do not. D. companies spread risk while pension plans are only spread within the company.
If government officials are mainly interested in generating tax revenue, then they should tax goods for which demand is price elastic.
Answer the following statement true (T) or false (F)