In general, activists are ________ about the ability of the economy to remain stable and non-activists are ________
A) pessimistic; optimistic
B) optimistic; optimistic
C) pessimistic; pessimistic
D) optimistic; pessimistic
D
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In a prison, cigarettes are used as a medium of exchange. In this scenario, a cigarette is an example of: a. near money
b. fiat money. c. fiduciary money. d. commodity money.
When the marginal product of labor ________ the average product of labor, then the average product is maximized.
A. is less than B. is greater than C. equals D. The average product of labor is never maximized.
Which of the following statements about the minimum wage is true?
A. The minimum wage has not had any impact on income inequality. B. Due to minimum wage increases, income inequality is now lower than it was in the mid-20th century. C. The minimum wage tends to create inflation, which benefits the wealthy more than the poor. D. Adjusting for inflation, the real minimum wage has fallen in the last 40 years.
Cost-push inflation is caused by too much money chasing too few goods
a. True b. False Indicate whether the statement is true or false