A monopolistically competitive firm produces where demand is inelastic
a. True
b. False
B
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Line item budgets _____
a. do not provide any insight into the effectiveness of expenditures b. are good for evaluating the effectiveness of programs c. allow expenditures to change gradually over time d. give insight into overall trends in agency expenditures
A fiduciary monetary system has to have all of the following EXCEPT
A) trust. B) a central bank. C) acceptability. D) predictability of value.
From 1970 to 1998 the U.S. dollar
a. gained value compared to the Italian lira because inflation was higher in Italy. b. gained value compared to the Italian lira because inflation was lower in Italy. c. lost value compared to the Italian lira because inflation was higher in Italy. d. lost value compared to the Italian lira because inflation was lower in Italy.
If a consumer prefers Apples to Bananas and prefers Bananas to Citrus Fruit, in order to satisfy assumptions about preferences she has to prefer
A) Bananas to Apples. B) Citrus Fruit to Bananas. C) Apples to Citrus Fruit. D) Citrus Fruit to Apples.