Using money as a unit of account lowers information costs compared to barter exchanges
a. True
b. False
Indicate whether the statement is true or false
True
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After 2009, the price of tablets fell each year and manufacturers of tablets produced and sold more tablets each year. This result is because the
A) "law of supply" does not apply to companies in the "high-tech" sector of the economy. B) "law of demand" does not apply to customers in the "high-tech" sector of the economy. C) supply curve of tablets shifted rightward. D) demand curve for tablets shifted leftward.
A form of business whose profits are taxed twice is
A) a proprietorship. B) a partnership. C) a corporation. D) either a proprietorship or a partnership, depending on other information.
The East Asian model's approach to interest rates has been
a. to keep interest rates well below market levels b. to keep interest rates above market levels c. to allow the market to determine interest rates d. to allocate investment funds entirely through government, and not charge any interest e. none of the above
A society which is inside its production possibilities frontier is efficient
a. True b. False Indicate whether the statement is true or false