Fiat money is generally issued by
A) private banks.
B) central banks.
C) brokerage firms.
D) major multinational corporations.
Answer: B
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Archie can paint 5 backyard fences or repair 2 cars in 8 hours, while Austin can paint 4 backyard fences or repair 2 cars in 8 hours. Identify the correct statement
a. Archie is relatively better in repairing cars. b. Archie is relatively better in painting fences. c. Austin is relatively better in painting fences. d. Archie and Austin are equally good in painting fences. e. Neither Archie not Austin are good in repairing cars.
Each firm under monopolistic competition produces a unique product which does not have a close substitute
a. True b. False Indicate whether the statement is true or false
A law that restricts the ability of hotels/motels to advertise on billboards outside of a resort community would likely lead to
a. no change in profits for all hotels/motels. b. reduced efficiency of local lodging markets. c. a request by consumers to increase the number of billboards. d. increased price competition among hotels/motels in the community.
Consider the IS-LM curves for an economy with flexible exchange rates. An increase in the foreign income will result in the:
A) LM curve shifting to the right. B) IS curve shifting to the right. C) LM curve shifting to the left. D) IS curve shifting to the left.