There is a(n) _______ relationship between the value of money and the quantity of money in circulation.
A. direct
B. inverse
C. unpredictable
B. inverse
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Which of the following is the national security argument against free trade?
A) A country must protect firms from dumping by foreign companies. B) A country must protect new industries to give them a chance to mature before facing foreign competition. C) A country must protect its consumers from foreign influences. D) A country must protect industries that produce defense equipment and armaments. E) A country must preserve its jobs.
If the number of people with the skills necessary to perform a job increases, labor ________ shifts to the ________.
A. demand; left B. demand; right C. supply; left D. supply; right
If a good has an external cost, then the marginal private cost curve
A) lies below the marginal social cost curve. B) lies above the marginal social cost curve. C) is negative. D) is the same as the marginal external cost curve.
Which of the following is a transfer payment?
A) Social Security payments B) the food stamp program C) a tax deduction D) an income tax credit