The HPAE have been more open to imports than most developing countries
Indicate whether the statement is true or false
TRUE
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Assume that no banks hold excess reserves, and the public holds no currency. If a bank sells a $100 security to the Fed, explain what happens to this bank and two additional steps in the deposit expansion process, assuming a 10% reserve requirement
How much do deposits and loans increase for the banking system when the process is completed?
The entry of new firms into a perfectly competitive market shifts the demand curve outward
a. True b. False Indicate whether the statement is true or false
For voluntary action to correct an externality
A. transaction costs are irrelevant. B. transaction costs have to be low. C. transaction costs have to be high. D. transaction costs have to be split evenly between all of the parties involved.