The relatively low rate of inflation coupled with a low unemployment rate that occurred in the 1990s represented a "normal" economic situation
a. True
b. False
Indicate whether the statement is true or false
False
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Standard measurements of the degree of income inequality take both money income and in-kind transfers into account
a. True b. False Indicate whether the statement is true or false
In the figure below, AB is the production-possibility curve of Canada. The line PQ shows the price ratio of one bushel of wheat/bale of cotton. The international price ratio is 0.25 bushels of wheat/bale of cotton as shown by the line RS. I1 and I2 are two of the community indifference curves of Canada. After Canada engages in free trade, it will:
A. produce at point S1 and consume at point C1. B. produce at point S1 and consume at point C0. C. produce and consume points not labeled in the graph. D. produce and consume at point C0.
United States Steel had its antitrust case dismissed on the grounds that it had shown no evidence of unreasonable conduct, despite controlling 60 percent of the steel market.
Answer the following statement true (T) or false (F)
The M2 measure of money consists of the sum of
A. M1, checking and savings deposits, and currency. B. M1, savings deposits, small time deposits, and money market mutual funds. C. savings deposits, small time deposits, and money market mutual funds. D. currency, checking and savings deposits, and small time deposits.