The chief economist of the country of Elbonia has predicted that the new policies adopted by the government will lead to higher economic growth accompanied by lower rates of inflation. The currency of Elbonia is expected to:
a. weaken
b. appreciate.
c. depreciate.
d. devaluate.
b
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Squatters were considered pioneers or land entrepreneurs by many of the people in
(a) England and the New England colonies. (b) the New England colonies and Middle Colonies. (c) the Middle Colonies and Southern Colonies. (d) all of the above.
Repeated games are conducive to
A) explicit cooperation. B) tacit cooperation. C) corruption. D) failing to have a Nash equilibrium.
The output of our economy is represented by the letter _____ in the equation of exchange.
A. M B. V C. P D. Q
An increasing-cost industry will have
A) a perfectly elastic long-run supply curve. B) a perfectly inelastic long-run supply curve. C) an upward sloping supply curve in the long run. D) an upward sloping demand curve in the long run.