If the dollar appreciates, American consumers will buy more foreign goods and services
a. True
b. False
Indicate whether the statement is true or false
True
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Comment on the following statement: "The Coase theorem implies that the contending parties will come to the efficient solution regardless of where rights are initially assigned."
What will be an ideal response?
By using restrictive fiscal policy during the Great Depression, the government improved the economic situation.
Answer the following statement true (T) or false (F)
Other things the same, the aggregate quantity of output supplied will increase if the price level
a. is lower than expected so that firms believe the relative price of their output has increased. b. is lower than expected so that firms believe the relative price of their output has decreased. c. is higher than expected so that firms believe the relative price of their output has increased. d. is higher than expected so that firms believe the relative price of their output has decreased.
The demand for a good is inelastic with respect to price if the price elasticity of demand is:
A. greater than one. B. equal to negative one. C. equal to one. D. less than one.