If we look at the value of money in terms of how many units of a good it takes to buy one dollar, then inflation means:
A. it would take fewer goods to buy the same dollar.
B. it would take more goods to buy the same dollar.
C. the same number of goods would buy fewer dollars.
D. it would take fewer dollars to buy the same goods.
Answer: A
Economics
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In the figure above, which of the following transactions take place in the factor markets?
i. Michael, a student, orders a computer from Dell online. ii. Peter gets a job at a Wal-Mart store. iii. Apple Computer opens a new store in Georgia A) ii and iii B) only i C) only ii D) only iii E) i and ii
Economics
In the above figure, if the price is $16, a profit-maximizing perfectly competitive firm will
A) produce 50 units. B) produce 35 units. C) produce 10 units. D) choose not to produce.
Economics