The objective of speculators is to buy at one price and sell at a lower price
Indicate whether the statement is true or false
False
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A point lying inside the production possibilities curve [PPC] is not an attainable combination
a. True b. False Indicate whether the statement is true or false
Taxes create deadweight losses because they
a. reduce costs for firms. b. distort incentives. c. cause prices to decrease. d. create revenue for the government.
Which of the following statements is normative?
A. A large budget surplus is likely to lower interest rates. B. High taxes tend to decrease saving. C. When the Federal Reserve increases the money supply, interest rates decrease. D. Large budget deficits should be avoided.
Holding all other things constant, a higher price for ski lift tickets would
a. increase the number of skiers.
b. increase the price of skis.
c. decrease the number of skis sold.
d. decrease the demand for other winter recreational activities.