Economic efficiency and economic freedom are commonly cited as two major benefits of socialism
a. True
b. False
Indicate whether the statement is true or false
False
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Marginal product of labor
A) is the derivative of the production function with respect to a one unit change in labor. B) is the derivative of the production function with respect to a one unit change in capital. C) is the derivative of the marginal cost curve. D) none of these choices.
Which of the following is an example of a bank's reserves?
A) currency held in the vaults of the bank B) demand deposits with other member banks C) U.S. Treasury bills D) U.S. Treasury bonds
Mary increases her consumption of Good X after the price of Good Y decreased. For Mary
A) Good X and Good Y are substitutes. B) Good X and Good Y are complements. C) Good X is an inferior good. D) Good Y is an inferior good.
How much people plan to consume at various levels of disposable income is known as
A. dissaving. B. the consumption function. C. investment. D. aggregate demand.