Over the past two decades, the U.S. has persistently exported more goods and services than it has imported
a. True
b. False
Indicate whether the statement is true or false
False
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When new firms enter the perfectly competitive Miami bagel market, the market
A) supply curve shifts leftward. B) supply curve does not change. C) demand curve shifts rightward. D) supply curve shifts rightward. E) demand curve shifts leftward.
The result of British currency policy after World War I
A) left the country with painfully high interest rates and unemployment for years. B) left the country well positioned for the roaring twenties that followed. C) gave the country a tremendous advantage when the Smoot-Hawley Act was passed in the U.S. D) left the country at a tremendous disadvantage when the Smoot-Hawley Act was passed in the U.S.
If fractional reserve banking exists, then:
A. banks need only keep a portion of each deposit on hand. B. the money multiplier is equal to 1. C. money cannot be created in the economy through banks. D. lending would be curtailed to nearly zero.
When workers are paid a wage that is less than their contribution to a monopsonist's revenues
A) this is sometimes referred to monopsonistic exploitation. B) this is sometimes referred to as an incentive. C) they seek part time employment. D) they file a grievance with their union representative.