Inflation and unemployment both increase as the money supply increases
a. True
b. False
Indicate whether the statement is true or false
False
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The leader in a Stackelberg oligopoly with a linear demand and marginal cost produces ________ than the follower second firm, charges ________ price, and earns ________ than the follower in economic profit.
A) more; the same; more B) more; a higher; less C) less; the same; more D) more; a higher; more
Inequality between countries, in terms of differences in their average national incomes, has been:
A. increasing since the 1930s. B. decreasing over recent decades. C. decreasing since the 1930s. D. increasing over recent decades.
Using Figure 1.6, if an economy has the capacity to produce represented by PP1, then point E represents
A. An efficient use of resources. B. A change in technology. C. A constant trade-off between cars and SUVs. D. A combination of cars and SUVs that is not attainable.
When consumers spend and buy things regardless of their level of income, this is known as:
A. bad financial management. B. living the good life. C. autonomous consumption spending. D. using credit to its maximum.