Having a large market share is one of the main ingredients to business success
Indicate whether the statement is true or false
False
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Even if some people are hurt by international trade, the HO model predicts that free international trade improves the standard of living for the country as a whole
Indicate whether the statement is true or false
The GDP gap is:
a. the product of the potential real GDP and the equilibrium level of real GDP. b. the distance between the current level of real gross domestic product and full employment real GDP. c. the difference between potential real GDP and the equilibrium level of real GDP. d. the difference between the present value of all of government's projected financial obligations and the present value of all projected future tax and other receipts. e. the difference between the actual output of an economy and its potential output.
The primary goal of supply-side economics is to
a. balance the federal budget. b. reduce the balance of payments deficit. c. reduce the money supply. d. reduce inflation and increase growth at the same time.
When the Fed purchases $1000 worth of government bonds from the public, the U.S. money supply eventually increases by
a. more than $1000. b. exactly $1000. c. less than $1000. d. None of the above are correct.