Indicate whether the statement is true or false
Markets tend to increase the costs of time and information required for exchange.
Answer: False
Economics
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In order to lower the federal funds rate, the Fed ________ government securities in open market operations, so that banks' reserves ________ and the quantity of money ________
A) buys; increase; increases B) sells; increase; decreases C) buys; decrease; increases D) buys; decrease; decreases E) sells; decrease; decreases
Economics
Larry spends all his $800 monthly income on pizza and milk. The price of pizza is $4 a slice, and the price of milk is $2 per quart. Larry's real monthly income in terms of pizza is
A) 400 slices. B) $800. C) 200 slices. D) $400.
Economics
Refer to Figure 4.2. A shift from D2 to D1 will result from which of the following?
A) an increase in expected future profits B) an increase in net exports C) an increase in corporate taxes D) a decrease in tax credits for savings
Economics
A firm has the following production function:
q = (L1/3 + K1/3)3 a. Determine the returns to scale for this function. b. Determine the MRTS. c. Determine the Elasticity of Substitution.
Economics