Public goods are both rival and nonexclusive
a. True
b. False
B
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
What is marginal private cost?
What will be an ideal response?
A rational consumer will always shift a dollar from a good whose marginal-utility-to-price ratio is lower to one whose marginal-utility-to-price is higher
a. True b. False Indicate whether the statement is true or false
When exchange rates are set by government decree,
A. appreciation is called devaluation. B. depreciation is called devaluation. C. depreciation is called deflation. D. appreciation is called inflation.