Answer the following questions true (T) or false (F)
1. Very few businesses, and virtually no nonprofit organizations, hire economists.
2. More chief executive officers of Fortune 500 companies majored in economics than in any other subject.
3. In the market for factors of production, firms earn income by selling goods and services to households.
1. FALSE
2. TRUE
3. FALSE
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For all points below the 45-degree line, planned aggregate expenditure will be less than GDP
Indicate whether the statement is true or false
A good example of a price floor is
a. rent controls on rental apartments in major cities b. the cheapest tickets to concerts c. the minimum wage law d. food stamps provided to low-income people who use them to purchase specific basic foods at retail stores, such as corner groceries and supermarkets e. discount airfares