A depreciation of the dollar will cause an increase in the Consumer Price Index.
Answer the following statement true (T) or false (F)
True
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Which of the following is an example of a barter transaction?
A) An individual pays her electric bill with a check. B) An individual pays her electric bill with currency. C) An individual provides three light bulbs to her neighbor in exchange for two gallons of milk. D) An individual deposits three twenty-dollar bills in her checking account.
An insurance policy is a contract that:
a. benefits the parties if they have the same degrees of risk aversion. b. benefits the parties if both of them are risk neutral. c. benefits the parties if they have different degrees of risk aversion. d. benefits the parties if either of them is risk neutral.
Which of the following is NOT correct regarding the theories of income distribution?
A. Dealing with how income ought to be distributed is a normative issue. B. The egalitarian principle of income distribution is "to each exactly the same." C. The productivity standard for the distribution of income is stated "to each according to what they produce." D. Dealing with how income should be distributed is a positive economic issue.
The Rare Bird Company has a monopoly in the sale of macaws in Iowa. When the Rare Bird Company sells three macaws, its marginal revenue is $30. When the Rare Bird Company sells four macaws, its marginal revenue will be
A. equal to $30. B. less than $30. C. greater than $30. D. greater than $30 if demand is elastic and less than $30 if demand is inelastic.