Economic value of a transaction where the buyer is allowed to deal with several sellers at the same time will always be higher than a transaction which ties the buyer to a particular seller by contract
Indicate whether the statement is true or false
F
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Which of the following is an allowable deduction?
A. Unreimbursed medical expenses that exceed 7.5% of AGI B. State and local income and property taxes C. Interest on qualified education loans up to a certain limit D. All of the answer options are correct.
The most prominent task of a central bank is to conduct _________ policy, which involves changes to interest rates and credit conditions, affecting the amount of borrowing and spending in an economy.
a. domestic b. legal c. monetary d. banking
When equilibrium real GDP falls short of potential GDP, there is a(n)
a. inflationary gap. b. potential gap. c. recessionary gap. d. precautionary gap.
Recall the Application about productivity in the nation of Latvia in the 1990s to answer the following question(s). According to this Application, workers in the EU were more productive than workers in Latvia in the 1990s, yet EU nations still purchased products from Latvia. This is because Latvia ________ in the production of the products it sold to EU nations.
A. had an absolute advantage B. had a comparative advantage C. used fewer resources D. had a higher opportunity cost