A tax on insulin is likely to cause a very large deadweight loss to society
a. True
b. False
Indicate whether the statement is true or false
False
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If a country's currency appreciates, then its exports will cost ________ abroad and its imports will cost ________ domestically
A) less; less B) less; more C) more; less D) more; more
An exporter can hedge against the possible decline in a foreign currency by purchasing
A) put options on the currency. B) call options on the currency. C) the currency on the spot market. D) currency on forward contracts.
Economics may be referred to as a(n) ________ science, meaning that data is looked at to see whether assertions are correct
A) empirical B) exact C) assumptive D) soft
The underlying cause of inflation is
a. labor unions demanding higher wages. b. businesses charging higher prices. c. government raising taxes. d. increasing aggregate demand.