The power of the contract and the ability to enforce contracts in the U.S. are, in part, responsible for the overall success of the U.S. economy
Indicate whether the statement is true or false
True
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When very few substitutes for a good exist, demand will be
A) elastic. B) unit-elastic. C) inelastic. D) perfectly elastic.
If the CPI in the United States was 150 in 2003 and 160 in 2004, the inflation rate over the year is _____
a. 10 percent b. 20 percent c. 7 percent d. 30 percent e. 50 percent
Who promised "two cars in every garage and a chicken in every pot?"
A. Herbert Hoover B. Franklin D. Roosevelt C. Dwight D. Eisenhower D. John F. Kennedy
Using Figure 2 above, suppose that the economy started at PAE2. A potential change that could cause the economy to go from PAE2 to PAE1 might be:
A. interest rates decrease. B. domestic income decreases. C. expected profitability of investments increase. D. wealth level decreases.