A price change triggers the income effect but not the substitution effect
a. True
b. False
Indicate whether the statement is true or false
False
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Since the mid-1980s, Federal Reserve policies have often been described as attempting
A) accelerated takeoffs. B) sustained growth. C) stalling tactics. D) soft landings.
From 1860 to 1910, U.S. statistical and qualitative evidence suggests that
(a) many migrants came during the upswings in the U.S. business cycle. (b) the employment experiences and economic conditions of family and friends in the U.S. influenced the decisions of prospective immigrants. (c) economic desperation, social immobility and restricted labor opportunities "pushed" immigrants out of their homelands and into the U.S. (d) all of the above are true.
Society definitely benefits by reducing the number of monopolistically competitive firms.
Answer the following statement true (T) or false (F)
In analyzing the gains and losses from international trade, to say that Moldova is a small country is to say that
a. Moldova can only import goods; it cannot export goods. b. Moldova's choice of which goods to export and which goods to import is not based on the principle of comparative advantage. c. only the domestic price of a good is relevant for Moldova; the world price of a good is irrelevant. d. Moldova is a price taker.