A country's index of openness can never exceed 100 in value
Indicate whether the statement is true or false
FALSE
Explanation: Recall the example of Singapore.
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A cost borne not by the producer but by other people is called ________ cost
A) an unregulated B) an external C) a consumer D) a non-production
Suppose that the price elasticity of demand for wheat is known to be -0.75. Will a good wheat crop (which increases the supply of wheat) be likely to increase or decrease the revenues of farmers? Carefully explain
What will be an ideal response?
If the value of a dollar falls, then the quantity of money demanded
a. rises, meaning people want to hold more of their wealth in a liquid form. b. rises, meaning people desire to work more so their income rises. c. falls, meaning people want to hold less of their wealth in a liquid form. d. falls, meaning people want to work less so their income falls.
Which of the following is the appropriate fiscal policy during a recession?
A. A budget surplus B. A budget deficit C. A balanced budget D. No change to the budget