The Maastricht Treaty eliminated passport controls at borders with the European Union

Indicate whether the statement is true or false


FALSE

Economics

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If the two individuals' indifference curves through their endowment bundles are tangent to one another at the endowment bundle (in the Edgeworth Box), then the endowment bundle is a competitive equilibrium allocation.

Answer the following statement true (T) or false (F)

Economics

The paradox of American farming is

A) food has become cheaper and more abundant as the number of farms has decreased. B) the demand for imported luxury food products has risen as the demand for domestic food products has fallen. C) the demand for food has risen as the number of people who pursue farming as a career has fallen. D) the amount of food produced has increased as the average farm size has fallen.

Economics

Keynesian economists today favor a model in which the aggregate supply curve is relatively flat at low levels of real GDP and slopes downward as real GDP approaches its potential level

a. True b. False Indicate whether the statement is true or false

Economics

If policy makers do nothing in response to an inflationary gap, what will happen?

a. a rapid movement toward lower unemployment and higher inflation b. a rapid movement toward lower unemployment and lower inflation c. a slow movement toward higher unemployment and higher inflation d. a slow movement toward lower unemployment and lower inflation

Economics