Perfectly elastic demand is represented as a horizontal line.
Answer the following statement true (T) or false (F)
True
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Countries without well-developed financial systems are able to sustain high levels of economic growth
Indicate whether the statement is true or false
If a country had a nominal GDP of $7,664 billion and a real GDP of $9,346 billion, what was the GDP deflator?
a. 80 b. 82 c. 120 d. 122
The distribution of profits among partners is determined by the
a. government's regulations b. partnership agreement c. financial contribution each makes to the business d. limits of their liability e. quantity of stock each owns