Off-budget expenditures are a recent phenomenon, originating during World War I
a. True b. False
b
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The production possibilities frontier represents the boundary between attainable and unattainable prices of commodities
a. True b. False
Economics is a social science rather than a "hard" science like physics because
a. economists abstract from reality when creating their theories. b. economics is easier to study than physics. c. economists must explain their theories to policy makers who lack formal mathematical training. d. economists study human behavior, which is affected by an unpredictable and vast range of influences.
Which of the following is an example of a company whose stock showed evidence of a price bubble?
a. Facebook b. Google c. Amazon d. all of the above
Suppose that a U.S. dollar buys more gold in Australia than it buys in Russia. What does purchasing-power parity imply should happen?