Which of the following at one time were monopolies because they were the first to enter their field?
A. Xerox
B. IBM
C. Microsoft
D. All of the choices are true.
D. All of the choices are true.
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Suppose the nominal interest rate is 2% and the real interest rate is -3%. We can deduce that the rate of inflation is
A) 0%. B) 2%. C) 3%. D) 5%.
Empirical support for the Heckscher-Ohlin model was weakest when the study applied
A) all of the assumptions of the model. B) all of the assumptions of the model except that regarding technology. C) all of the assumptions of the model except those regarding technology, goods and shipping costs. D) all of the assumptions of the model except those regarding technology, shipping costs and gravity. E) all of the assumptions of the model except those regarding shipping costs.
The income velocity of money is
A) the time it takes to produce money. B) the time lag from when the Fed decides to increase the money supply until the effect takes place. C) the number of times per year a dollar is spent on final goods and services. D) the time it takes for monetary policy to have an effect on world financial markets.
If the economy is inside the production possibilities curve, then more output can be produced using existing resources.
Answer the following statement true (T) or false (F)