The increased use of automatic teller machines has decreased the demand for money
Indicate whether the statement is true or false
TRUE
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The CPI bias arises from all of the following items except ________
A. the introduction of new goods and services B. the improved quality of goods C. the goods and services bought by poor people D. consumers' responses to price changes
To arrive at a logical determination of a firm’s optimum output, economists assume that the firm seeks to
a. maximize output. b. minimize cost. c. maximize profit or minimize loss. d. maximize price.
A firm which owns its own equipment and is earning positive economic profits a. is likely earning positive accounting profits
b. is likely earning zero accounting profits. c. is likely earning negative accounting profits. d. could be earning positive or negative accounting profits.
How is the market clearing price established in a perfectly competitive industry?
What will be an ideal response?