A large increase in Micromania's exports to other countries will cause, ceteris paribus, Micromania's currency to appreciate
Indicate whether the statement is true or false
T
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Fogel and Engerman (1974) find evidence to suggest that young slave children were often sold by profit-maximizing slave owners
Indicate whether the statement is true or false
Figure 10-1
If the price level in Figure 10-1 were 100,
a.
firms would have to lower their prices.
b.
inventories would be accumulating.
c.
shortages of goods would exist.
d.
aggregate quantity demanded would exceed aggregate quantity supplied.
e.
both c and d would occur.
eBay does not qualify as a market for the good being sold because it is not a specific, physical location.
Answer the following statement true (T) or false (F)
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.