In the long run, changes in prices of goods and services paid by consumers have no effect on:
A. the macroeconomy.
B. aggregate supply.
C. aggregate demand.
D. All of these are true.
D. All of these are true.
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Which of the following assets is the most liquid in the United States?
A) U.S. Treasury Bonds B) corporate bonds C) U.S. currency D) an antique car
A world price of a good:
A) is the lowest price for which the good is available in any country in the world. B) is the price prevailing in the country with the highest production of the good. C) is equal to the lowest opportunity cost of producing the good in any country in the world. D) is the prevailing price of the good on the global market.
An efficient allocation of resources occurs when we
A) produce the goods and services that people need. B) cannot produce more of a good or service without giving up some other good or service that we value more highly. C) produce the goods and services that people want. D) cannot produce more of a good or service without giving up some other good or service that we need.
The first checks were probably notes written to a goldsmith asking him to transfer ownership of some designated amount of gold from the writer of the note to its bearer
a. True b. False Indicate whether the statement is true or false