Foreign trade in goods and services typically involves paying the costs of production in one currency while receiving revenues from sales in another currency
a. True
b. False
Indicate whether the statement is true or false
True
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Mia wants to buy a book. The economic perspective suggests that Mia will buy the book if the
A. marginal cost of the book is greater than or equal to its marginal benefit. B. marginal cost of the book is affordable for her. C. marginal benefit of the book is greater than zero. D. marginal benefit of the book is greater than or equal to its marginal cost.
A free rider problem is created by private goods
Indicate whether the statement is true or false
If the economy is at full employment, anything that causes the level of income to change will cause fluctuations in the __________ that will shift the __________ curve and thus help stabilize economic activity
A) price level; IS B) price level; LM C) interest rate; IS D) interest rate; LM
Variable costs
A) decrease with increasing output. B) increase with decreasing output. C) decrease with decreasing output. D) might increase or decrease with increasing output.