Increasing a fixed exchange rate is called a revaluation
Indicate whether the statement is true or false
TRUE
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Economists assume that individuals make informed decisions and act in their own self-interest
Indicate whether the statement is true or false
How does a currency drain affect the money multiplier?
What will be an ideal response?
____________ tax is used to provide funds for Social Security and Medicare.
a. Payroll b. Income c. Sales d. Inheritance
Because an oligopoly is characterized by
A. few large sellers, each seller has some influence over the market price. B. a single seller of a product that has few suitable substitutes, the seller is a price maker. C. many small sellers, each firm must differentiate its product. D. a few sellers selling a differentiated product, each seller makes its price and output decisions independently.