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best answer ten points
50: Which of the following is not directly affected by the quantity of money in a country?
the level of prices
the quality of service
the rate of economic growth
the amount of employment
51: True or False: Prices not only ration existing supplies, they also act as powerful incentives to cause supplies to rise or fall in response to changing demand.
True
False
.
.
52: True or False: Money is defined as anything that is generally accepted by people in exchange for the things they sell or the work they do.
True
False
.
.
53: True or False: The first development of paper money began in China, probably during the 1500s.
True
False
.
.
54: True or False: Typically, price controls are imposed in order to keep prices from rising to the levels that they would reach in response to supply and demand.
True
False
.
.
55: True or False: In the normal course of events, people's demand for housing space stays the same over a lifetime.
True
False
.
.
56: True or False: During the Great Depression of the 1930s, agricultural price support programs led to vast amounts of food being deliberately destroyed.
True
False
.
.
57: True or False: When a supermarket chain buys $10,000 worth of bread, it gets its money back much faster than when a piano dealer buys $10,000 worth of pianos.
True
False
.
.
58: True or False: The cost of producing a given product or service remains the same despite the volume being produced. This is what economists call "economies of scale."
True
False
.
.
59: True or False: Both profit and losses force businesses to change with changing conditions or find themselves losing out to competitors who spot the new trends earlier or who understand their implications better.
True
False
.
.
60: True or False: The advantage of a command economy is that vast amounts of knowledge about the needs and wants of the consumer do not ever have to be brought together, but are coordinated automatically by prices that convey what numerous people want.
True
False
.
.
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