When your budget line is just tangent to your indifference curve, you are at your best affordable point
Indicate whether the statement is true or false
TRUE
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If a depreciation of the British pound is to be prevented, the U.S. Federal Reserve has to buy British pounds and sell U.S. dollars
a. True b. False Indicate whether the statement is true or false
Which of the following periods is characterized by the sharpest increase in inflation?
a. 1968–1972
b. 1976–1980
c. 1980–1984
d. 2008–2012
As new firms enter a monopolistically competitive industry, the demand curve for an individual firm shifts to the right.
Answer the following statement true (T) or false (F)
Countries with small amounts of capital per worker tend to have ______ levels of real GDP per person and ___ levels of average labour productivity.
A. high; high B. high; low C. low; low D. low; average