Marginal benefits and total benefits are equal when net total benefits are maximized
Indicate whether the statement is true or false
False
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A problem with the operation of the gold standard in the world economy was that
A) it involved too much government intervention in the economy. B) the world economy was subject to too much inflation. C) a country did not have control of its domestic monetary policy. D) it caused the Great Depression.
Anna's Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. If Anna can only set one price, what price should she set?
a. $100 b. $70 c. Any price higher than $100 d. Any price lower than $70
In the short run, the following could cause a recessionary gap
What will be an ideal response?
The Cournot model assumes that the firms take their competitors output as fixed.
Answer the following statement true (T) or false (F)