Fiat money is money by government decree.
Answer the following statement true (T) or false (F)
True
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Recall the Application about the impact Chinese imports have on U.S. labor markets to answer the following question(s).According to the Application, did Autor, Dorn and Hanson's study show that trade with China not beneficial to the United States?
A. No, the study did not look into the additional opportunities of U.S. firms to export into China. B. Yes, communities exposed to imports from China had high unemployment rates. C. Yes, communities exposed to exports to China had high unemployment rates. D. Yes, communities exposed to imports from China had lower inflation rates.
GDP measures
A. the annual value of final goods and services produced by factors of production located within a national border. B. the value of all goods and services sold in a given country. C. the annual total value of all services produced by factors of production located within a national border. D. the annual value of goods and services produced by factors of production owned by companies headquartered in a given country.
Consider the production possibilities frontier in the figure shown. The opportunity cost of cars when moving from point B to point C:
A. there is no opportunity cost when we move from B to C. B. is greater than the opportunity cost of cars when moving between any other two points. C. is greater than the opportunity cost of cars when moving from point A to point B. D. is less than the opportunity cost of cars when moving from point A to point B.
Refer to the information provided in Scenario 36.4 below to answer the question(s) that follow.SCENARIO 36.4: In a randomized 1-year trial of 400 Mr. Lincoln hybrid tea rose bushes with rose rosette disease, 200 are slated to receive only a sulphur treatment (we will call this Group A), and the other 200 are slated to receive the sulphur treatment and an additional neem oil treatment 4 months later (we will call this Group B). Assume that the neem oil treatment is ineffective in treating rose rosette disease, so on average, the same proportion of rose bushes in each group will die of the disease. In Group B, 25 of the 200 rose bushes die in the 4-month period leading up to the neem oil treatment. Of the 175 bushes left, 25 die in the 8 months following the neem oil treatment. Since we
know the neem oil treatment is ineffective, the rose bushes in Group A will, on average, suffer the same fate as those in Group B, with 25 bushes dying in the first 4 months and another 25 dying in the following 8 months.Related to the Economics in Practice on p. 727: Randomly granting vouchers by the Department of Housing and Urban Development was an effort to avoid the A. location bias problem. B. substitution bias. C. income bias. D. selection bias.