The prices of the products in the World War II POW camps, measured in terms of cigarettes, reflected the products':
A. costs of production.
B. retail prices.
C. practicality.
D. scarcity.
Answer: D
Economics
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Say's law argues that
I. overproduction is typical in a market economy. II. supply creates its own demand. A) I only B) II only C) Both I and II D) Neither I nor II
Economics
GDP ignores transactions that take place in the underground economy
Indicate whether the statement is true or false
Economics
If workers demand wage compensation in advance of inflation, the economy's aggregate supply curve will
a. have a positive slope. b. have a negative slope. c. be vertical. d. be horizontal.
Economics
The sale of government securities by the Fed
A) decreases the supply of money. B) increases the supply of money. C) decreases the demand for money. D) increases the demand for money.
Economics