If a society uses the market system, it must rely solely on markets to solve all of its problems
a. True
b. False
Indicate whether the statement is true or false
False
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Purchasing power parity is defined as
A) an equal value of money across currencies. B) a currency whose value rises. C) an equal value of interest rates across currencies. D) a currency whose value falls. E) a constant value for a currency.
Why are private enterprises more efficient than government enterprises?
What will be an ideal response?
Which of the following will definitely reduce a budget deficit and provide fiscal restraint?
A. Greater government spending and lower taxes. B. Greater government spending and higher taxes. C. Lower government spending and lower taxes. D. Lower government spending and higher taxes.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD1 the result in the long run would be:
A. P4 and Y1. B. P4 and Y2. C. P5 and Y1. D. P5 and Y2.