Economic models are of limited use since they cannot be tested empirically
a. True
b. False
Indicate whether the statement is true or false
False
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The components of the U.S. M1 money supply are demand and checkable deposits plus
A) currency. B) currency plus savings deposits. C) currency plus travelers checks. D) currency plus travelers checks plus money market deposits.
Spending VCU4 on real-world goods and services causes the nation's:
a. Monetary base to rise. b. M2 money multiplier to rise. c. M2 money multiplier to fall. d. Monetary base to remain the same.
A number of studies of the effect of immigration on U.S. wages has found:
a. no effect on wages of any educational group. b. significant rises in wages for those without a high school diploma and for college graduates but a negative impact for high school graduates and those with some college education. c. significant declines in wages for those without a high school diploma and for college graduates. d. no effect on other groups but significant declines in wages for high school graduates and those with some college
Which of the following is FALSE regarding bilateral monopoly?
A) Bilateral monopoly is a market structure consisting of a monopolist and a monopsonist. B) Bilateral monopoly is defined as a market structure in which a single buyer faces a single seller. C) An example of bilateral monopoly is a state education employer facing a single teachers' union in the labor market. D) The price outcome is easily determined.