In the early 1920s,
a. Germany experienced a very high rate of inflation.
b. the quantity of German money was declining rapidly.
c. the value of German money remained almost constant.
d. All of the above are correct.
a
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The New Classical assumption of how quickly markets clear is actually most appropriate in the analysis of
A) the labor market. B) the aggregate good market. C) financial markets. D) the market for consumer durables.
What is the best response of firm B, given firm A is charging a low price?
a. Charge a low price b. Charge a high price c. Charge zero, give the good away d. All of the above
We know that going to college pays off. For example, we know that college graduates earn
Deadweight loss
A. is measured as the combined loss of consumer surplus and producer surplus. B. results from producing a unit of output for which the maximum willingness to pay exceeds the minimum acceptable price. C. can result from underproduction, but not from overproduction. D. can result from overproduction, but not from underproduction.