Although current U.S. tariffs are quite low on average, tariffs remain high for some products
Indicate whether the statement is true or false
TRUE
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The first checks were probably notes written to a goldsmith asking him to transfer ownership of some designated amount of gold from the writer of the note to its bearer
a. True b. False Indicate whether the statement is true or false
A profit-maximizing, monopolistically competitive firm always operates: a. at the minimum of average total cost
b. at the point where demand is unit elastic. c. with excess capacity. d. at an economically efficient scale.
If the short-run aggregate supply curve is shifting left:
a. the short-run Phillips curve is shifting left. b. the short-run Phillips curve is shifting right. c. the long-run Phillips curve is shifting right. d. the long-run Phillips curve is shifting left.
The economic expansion which began in 1933 was due to
A. the fact that business had hit bottom and was ready to rebound. B. The efforts of the Roosevelt Administration to stimulate the economy. C. Both the efforts of the Roosevelt Administration and the readiness of business to rebound. D. Neither the efforts of the Roosevelt Administration nor the readiness of business to rebound.