When computing p-values, population variation matters.
Answer the following statement true (T) or false (F)
True
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The use of an absorption instrument allows a government to
A) increase or decrease national absorption. B) change the balance between imports and exports. C) alter the balance of payments with a specific country. D) reduce the influence of domestic absorption on exchange rates.
Microeconomics differs from macroeconomics in that:
a. microeconomics studies individual decision making while macroeconomics examines aggregate decision making. b. microeconomics studies aggregate decision making while macroeconomics examines individual decision making. c. microeconomics utilizes positive economic analysis while macroeconomics utilizes normative economic analysis. d. microeconomics is concerned with consumer behavior while macroeconomics is concerned with firm behavior.
Which of the following is not a characteristic of a monopoly?
a. the seller has market power b. one seller c. free entry and exit d. a product without close substitutes
Higher standards of living are the result of
A) an increase in the availability of goods and services that people value. B) an increase in the general level of prices. C) trade restrictions that favor domestic industries over foreign competition. D) government subsidies that expand employment.