The most severe remaining debt problems are in
a. Latin America.
b. Africa
c. East Asia
d. Western Europe
e. none of the above
B
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The equilibrium price and quantity of a good under perfect competition are determined:
A) by the intersection of the market demand and total revenue curves. B) by the intersection of the total revenue and total cost curves. C) by the intersection of the market demand and market supply curves. D) by the intersection of the market supply and total revenue curves.
To understand how poverty, inequality, and discrimination affect the economy, __________ analysis is used, and _________ analysis is used to address whether the government should try to reduce inequality in the name of social justice.
A. positive; objective B. subjective; normative C. normative; positive D. positive; normative
The Fed could conduct an open market purchase to eliminate an inflationary gap.
a. true b. false
What are the primary effects of cost-push inflation?
A. It raises real output, and redistributes an increased level of real income B. It reduces real output and redistributes a decreased level of real income C. It raises real output, but redistributes a decreased level of real income D. It reduces real output, but redistributes an increased level of real income