There was a silver lining during the Great Depression. Compared to other periods in U.S. history, this period was one of the most technologically advanced
Indicate whether the statement is true or false
True
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Unlike the market process, in the political market it is possible for some individuals to receive very large benefits from the political process without any significant impact on their tax bills
Indicate whether the statement is true or false
An indifference curve is negatively-sloped because:
A) utility is a subjective concept. B) as the consumer obtains additional units of one good, the consumer is willing to sacrifice increasing amounts of the other good. C) in order to remain at the same level of utility, if an individual gets more of one good, he must sacrifice some of the other good. D) marginal utility is constant along an indifference curve, and increases in the consumption of one good cause the price of that good to fall.
If a price decrease of a product significantly raises its revenues, then the absolute price elasticity of demand for that product must be
A) less than one. B) equal to one. C) greater than one. D) an example of unit elasticity.
In order to achieve an unemployment rate below the natural rate of unemployment, the Fed must pursue a policy of low monetary growth during a time when the public expects high inflation
a. True b. False Indicate whether the statement is true or false