An import quota is the same as an import ban.
Answer the following statement true (T) or false (F)
False
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
________ decreases a firm's capital stock, and ________ increases its capital stock
A) Saving; depreciation B) Depreciation; investment C) Time; depreciation D) Saving; investment E) Investment; saving
Velocity represents the average number of times that a dollar is used in purchasing final goods and services in a one-year period
a. True b. False Indicate whether the statement is true or false