Tariff rates remained high after the Civil War because government revenue needs were pressing and there were protectionist sentiments
Indicate whether the statement is true or false
True
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Inflation is generally the result of total spending growing faster than total production
Indicate whether the statement is true or false
How much trade do currency unions create?
What will be an ideal response?
The idea that a large national debt is "mortgaging the future of our children and grandchildren" is misleading because:
A. it is the Federal Reserve that will be responsible for making interest payments on the debt. B. future generations will have to bear the opportunity costs of the resources that are used today. C. future generations will not be liable for the interest obligations of the national debt. D. future generations will inherit the interest income as well as the interest obligations.
When a currency is overvalued, international reserves ________ and the country has a balance-of-payments ________.
A. decrease; surplus B. decrease; deficit C. increase; deficit D. increase; surplus