Hyperinflation refers to an inflation rate which exceeds 5 percent per month
Indicate whether the statement is true or false
FALSE
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Suppose the United States subsidizes domestic chicken production and then sells surpluses on the world market at a price below the cost of production
In foreign countries, the argument that would made to restrict chicken trade with the United States would be the A) penalizes lax environmental standards argument. B) saves jobs argument. C) infant-industry argument. D) dumping argument. E) national security argument.
There are 6 firms in a market and the market shares of the firms are 40 percent, 30 percent, 10 percent, 8 percent, 7 percent, and 5 percent. The four-firm concentration ratio is equal to
A) 2738. B) 2664. C) 100. D) 88.
Migraine medicine increased in price by 6% causing a 1% increase in quantity supplied. Supply is
a. inelastic. b. elastic. c. unit elastic. d. elasticity.