Which of the following is a cost of inflation?
a. shoeleather costs
b. menu costs
c. relative price variability
d. All of the above are correct.
d
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Pollution problems are usually cases of good versus evil
Indicate whether the statement is true or false
The risk structure of interest rates refers to
A) the amount of additional interest necessary to compensate savers for the greater risk of default on some bonds. B) the relationship among the interest rates on similar bonds with different maturities. C) the relationship among the interest rates on bonds with the same maturity. D) the amount of additional yield necessary to compensate savers for the lesser liquidity of some bonds.
Refer to Table 4.1. Mike's preferences are consistent with the Ranking Principle because:
A. the two goods are perfect complements.
B. there are no empty cells.
C. in each column, the choices at the top are ranked lower than the choices at the bottom.
D. in each column, the choices at the top are ranked higher than the choices at the bottom.
Which of the following is the best definition of the minimum-wage rate?
a. a wage set through collective bargaining b. the wage that equalizes the quantity demanded and quantity supplied of labor c. a higher wage set in order to improve productivity d. an hourly wage floor set above the equilibrium wage