Recall the Application about how Greek citizens began to hold large amounts of cash in 2015 to answer the following question(s). According to this Application, the main concern of Greek residents was that:
A. hyperinflation could occur in the economy.
B. banks would convert their accounts to drachmas and they would suffer financial losses.
C. the country would switch to a gold standard.
D. the Prime Minister of Greece would be impeached.
Answer: B
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Refer to Table 4-3. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $30, producer surplus is
A) $0. B) $16. C) $52. D) $68.
With a temporary income tax surcharge, according to the ________, household consumption should ________
A) PIH; fall as disposable income falls B) PIH; rise since the decrease is disposable income is temporary C) LCH; fall since disposable income over the lifecycle falls D) None of the above is correct since a temporary change affects neither permanent income or relative lifecycle earnings.
Implementation of the National Industrial Recovery Act (1933) positively impacted overall industrial production
Indicate whether the statement is true or false
A situation in which one party makes a contractual agreement with a second party in the expectation that the second party will act on its behalf is known as
a. an adverse selection relation b. a signaling relation c. an authority relation d. a principal-agent relation e. a nonmarket relation