For the first time since the Civil War (1861–65), laborers were forced into active military service during World War I (1914–18)
Indicate whether the statement is true or false
True
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When a rise in the price of one item results in a decrease in the demand for another good, then the two goods are
A) substitute goods. B) complementary goods. C) inferior goods. D) satisfying the law of supply.
A firm's demand curve for labor services:
A. will not change if technology changes. B. is not related to the price of the firm's output. C. depends on the amount of other inputs used by the firm. D. is independent of the demand for the firm's output.
All of the following are included in M1 EXCEPT
A) coin and currency. B) money market mutual fund shares. C) traveler's checks. D) checking account balances.
Utility refers to the:
A. satisfaction that a consumer derives from a good or service. B. rate of decline in a product demand curve. C. relative scarcity of a product. D. usefulness of a product.