According to Adam Smith, a country should produce all goods at home that it can, even if it could buy those goods at a lower cost from other countries t/f
a. true
b. false
b. false
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If the Fed announces a new policy of slower monetary growth it will result in lower inflation and no change in output only if
A) the policy is credible and price expectations are reduced. B) the policy is time consistent and expectations remain constant. C) the policy is time inconsistent and expectations increase. D) Both A and B are correct.
When you use a debit card to purchase a pair of jeans, you are
A) creating a 30-day loan from your bank to the seller. B) creating a 30-day loan from the seller to your bank. C) giving your bank an instruction to transfer funds directly from your bank account to the store's bank account. D) creating an overnight repurchase agreement between your bank and the store.
If the price of natural gas rises, when is the price elasticity of demand likely to be the highest?
a. immediately after the price increase b. one month after the price increase c. three months after the price increase d. one year after the price increase
Supply shift to the left=
What will be an ideal response?