According to Milton Friedman, continued inflation is always and everywhere
A) a supply-side phenomenon.
B) caused by continued decreases in aggregate supply.
C) caused by continued increases in the budget deficit.
D) a monetary phenomenon.
E) none of the above
D
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Which of the following characteristics is most important in differentiating between perfect competition and all other types of markets?
A) whether or not the product is standardized B) whether or not there is complete market information about price C) whether or not firms are price takers D) All of the above are equally important.
Why might someone be willing to pay more than the fundamental value for a stock?
In the United States:
A. the middle class has become the largest class. B. the lower class has become the largest class. C. all three classes are the same size. D. the upper class has become the largest class.
The advantage in the production of a product enjoyed by one country over another when it uses fewer resources to produce that product than the other country does is
A. an absolute advantage. B. a comparative advantage. C. a productive advantage. D. a relative advantage.