The supply curve of a one-of-a-kind original painting is
What will be an ideal response?
perfectly inelastic.
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It has been observed that a change in monetary policy in the United States
A) has little or no effect on foreign markets. B) leads to corresponding changes in other countries. C) has only short run influences. D) impacts net exports.
The difference between net public debt and gross public debt is
A) all government interagency borrowing. B) the interest paid annually on the public debt. C) the amount owed to individuals and firms outside the United States. D) the current year's budget deficit from the amount of public debt at the start of the year.
The U.S. has a mixed economy because
A. the government helps in answering the three basic questions of economics: what, how and for whom. B. the laissez faire market system lacks government intervention. C. all goods and services are provided privately. D. the central planning body makes all market decisions.
If consumption spending is greater than disposable income, then there is
A. dissaving. B. excess thrift. C. negative net investment. D. positive savings.