The high unemployment of 2008–2010 caused a substantial decrease in inflation, which created fears of deflation.
Answer the following statement true (T) or false (F)
True
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"No country is abundant in everything." Discuss
What will be an ideal response?
In what way are other assets less liquid than money?
What will be an ideal response?
A university's football stadium is never more than half-full during football games. This indicates
a. the ticket price is above the equilibrium price. b. the ticket price is below the equilibrium price. c. the ticket price is at the equilibrium price. d. nothing about the equilibrium price.
The United States has imposed taxes on some imported goods that have been sold here by foreign countries at below their cost of production. These taxes
a. benefit the United States as a whole, because they generate revenue for the government. In addition, because the goods are priced below cost, the taxes do not harm domestic consumers. b. benefit the United States as a whole, because they generate revenue for the government and increase producer surplus. c. harm the United States as a whole, because they reduce consumer surplus by an amount that exceeds the gain in producer surplus and government revenue. d. harm the United States as a whole, because they reduce producer surplus by an amount that exceeds the gain in consumer surplus and government revenue.