Inflation target refers to the commitment of central bankers to keep inflation below a certain rate for the next year or two
Indicate whether the statement is true or false
true
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If the marginal cost of treating an illness is zero, then the optimal amount of treatment to receive is the amount:
A. for which the average benefit of treatment is zero. B. for which the marginal benefit of treatment is zero. C. for which the total benefit of treatment is zero. D. that makes the patient is as healthy as possible.
International Economists cannot discuss the effects of international trade or recommend changes in government policies toward trade with any confidence unless they know
A) their theory is the best available. B) their theory is internally consistent. C) their theory passes the "reasonable person" legal criteria. D) their theory is good enough to explain the international trade that is actually observed. E) their theory accounts for China's unique position in international trade.
When the absolute price elasticity of demand is greater than 1, demand is
A) elastic. B) unit-elastic. C) inelastic. D) undetermined without more information.
A focus of antitrust activities is
A) entry blocking. B) price fixing. C) the buying of patents. D) rent-seeking by lobbyists.