We ADD to the GDP when goods produced abroad are sold in the United States
Indicate whether the statement is true or false
FALSE
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Higher efficiency in the economy can be reached if prices are held low by law.
Answer the following statement true (T) or false (F)
Briefly explain how reductions in government purchases and tax decreases would influence aggregate demand through the multiplier effect. Give an example.
What will be an ideal response?
Contractionary monetary policy tends to push the U.S. price level:
A. up and lower the exchange rate. B. down and lower the exchange rate. C. down and raise the exchange rate. D. up and raise the exchange rate.
Economics is the study of
A. why some people want certain goods and services. B. the allocation of scarce resources to satisfy unlimited wants. C. ways to use fewer resources. D. earning the most income.