Money will fail to serve as a medium of exchange if it ceases to be a store of value
Indicate whether the statement is true or false
TRUE
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Farm productivity can always be improved by
a. transforming small plots into larger ones b. encouraging the use of modern equipment c. making sure that each farmer has land in each ecological zone d. encouraging monocropping e. none of the above
A 95% confidence set for two or more coefficients is a set that contains
A) the sample values of these coefficients in 95% of randomly drawn samples. B) integer values only. C) the same values as the 95% confidence intervals constructed for the coefficients. D) the population values of these coefficients in 95% of randomly drawn samples.
Bid-rigging is more likely when
a. auctions are for larger amounts b. auctions are frequent c. auctions are infrequent d. the auctioneer is paid on commission rather than a fixed fee
The law of diminishing marginal product shows the relationship
A. between inputs and outputs for a firm in the long run. B. between short-run and long-run outputs of a firm. C. between inputs and outputs for a firm in the short run. D. between accounting and economic profits.