American life expectancy is _____ than average in comparison to other industrial countries.
Fill in the blank(s) with the appropriate word(s).
lower
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According to this Application, one solution proposed to deal with the rising expenses of government entitlement programs is to raise taxes. An increase in taxes to help cover the rising expenses of entitlement programs would
A) increase aggregate demand, shifting the AD curve to the left. B) decrease aggregate demand, shifting the AD curve to the left. C) decrease aggregate demand, shifting the AD curve to the right. D) increase aggregate demand, shifting the AD curve to the right.
The purchasing power parity (PPP) theory suggests the prices of identical items will equalize internationally. An illustration that supports this theory is the fact that the price of a McDonald's "Big Mac" is the same around the world
a. True b. False
The process of taking advantage of market inefficiencies to earn profits is called:
A. arbitrage. B. technical analysis. C. a random walk. D. futures contracting.
In competitive markets, which of the following is not correct?
a. Firms produce identical products.
b. No individual buyer can influence the market price.
c. Some sellers can set prices.
d. Buyers are price takers.