The quintessential example for the price of another potential output and the impact of the price of one good on the market for another is
A. corn and soybeans.
B. 7up and sprite.
C. hotdogs and hotdog buns.
D. crude oil and gasoline.
Answer: A
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Which of the following statements accurately describes the two measures of the money supply?
A) The two measures do not move together, so they cannot be used interchangeably by policymakers. B) The two measures' movements closely parallel each other, even on a month-to-month basis. C) Short-run movements in the money supply are extremely reliable. D) M2 is the narrowest measure the Fed reports.
All of the following are associated with the War Industries Board except
a. the negotiation of the prices of key industrial products. b. developing and implementing the bulk line pricing system to determine industrial prices that maximized output. c. the unintended consequence of the "priorities inflation" of contracts. d. establishing and enforcing minimum wages for manufacturing workers.