Homogeneous goods are ________
A) perfect complements
B) perfect substitutes
C) similar but not identical
D) always inferior
B
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If a country's purchases of foreign assets exceeds foreign purchases of domestic assets, that country has
a. positive net exports and positive net capital outflows. b. positive net exports and negative net capital outflows. c. negative net exports and positive net capital outflows. d. negative net exports and negative net capital outflows.
If the unemployment rate falls below its long-run level, which policies would be appropriate to stabilize output?
a. increase the money supply, increase taxes b. increase the money supply, cut taxes c. decrease the money supply, increase taxes d. decrease the money supply, cut taxes
Deflation occurs when
What will be an ideal response?
In the short run, it is necessary to nonprice ration a good whenever ________ exists.
A. excess supply B. excess demand C. a surplus D. market equilibrium