Every economic system requires a means for determining resource allocation
a. True
b. False
A
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In the figure above, the United States ________ helicopters per year
A) exports 480 B) exports 720 C) imports 480 D) imports 240
Sovereign debt crises are triggered ________
A) by innovations in subprime real estate markets B) when a country's debt-to-GDP ratio becomes excessively high C) when austerity measures cause a sharp fall in the supply of government bonds D) by the adoption of a common currency, such as the euro
What is a term referring to a table that shows the quantity supplied at a range of different prices?
a. demand curve b. demand schedule c. supply curve d. supply schedule
Because low tariffs have a high ratio of benefits to costs, they are an especially efficient way for nations to achieve full employment and growth
Indicate whether the statement is true or false