While using an outward-oriented development strategy, the government in Taiwan did not make any attempt to stimulate exports
a. True
b. False
Indicate whether the statement is true or false
False
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An open-market sale of Treasury bills by the Fed not only reduces the money supply but also
A. Lowers T-bill prices and raises interest rates. B. Drives up T-bill prices and pushes down interest rates. C. Lowers T-bill prices and pushes down interest rates D. None of these.
Which of the following describes the Giffen good case? When the price of the good
A) rises, the income effect is opposite to and greater than the substitution effect, and consumption falls. B) falls, the income effect is in the same direction as the substitution effect, and consumption rises. C) falls, the income effect is in the opposite direction to the substitution effect, and consumption falls. D) falls, the income effect is in opposite direction to the substitution effect and consumption rises. E) Both A and D are correct.
Many experts on the nursing shortage insist that, in addition to higher money wages, other ways will have to be found to make the nursing profession more attractive, including, for example, more respect from physicians and administrators, more flexible schedules, and more secure parking lots. These facts illustrate the concept of
A. exploitation. B. pecuniary principles. C. economic rent. D. nonmonetary attractiveness.
2A fixed cost is
A. a cost the firm must pay even if output is zero. B. a cost which increases in a fixed proportion as output increases. C. the cost of any input with a fixed price per unit. D. both b and c E. all of the above