By the time the Civil War (1861–1865) ended, hyperinflation was a problem in both the North and the South
Indicate whether the statement is true or false
False
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Which of the following best describes the difference(s) between a model and a theory?
a. A theory is a more abstract representation, while a model is more applied or empirical representation. b. A model is a more abstract representation, while a theory is more applied or empirical representation. c. Theories are used to test models. d. Models have been proven, but theories are still being investigated.
If businesses found that changing economic conditions made it attractive for them to hire a larger number of economics majors, we would expect
a. economics majors to receive a greater return on their human capital investment. b. a decrease in the employment opportunities for economics majors. c. lower wages for economics majors. d. fewer students to major in economics.
If a currency union lowers the cost of trade and therefore promotes increased trade, the Euro-optimists believe that:
A) a currency union at some point will no longer be necessary. B) at some point the OCA criteria will be satisfied. C) the benefits of having an independent monetary policy will outweigh the benefits from the currency union. D) the currency union may never be beneficial to an individual nation, but it does reduce political tension in large regions.
Which of the following statements is most correct?
A. Usually expected returns are not associated with risk premiums. B. Usually lower expected returns are associated with higher risk premiums. C. Usually higher expected returns are associated with higher risk premiums. D. Usually higher risk premiums are associated with lower expected returns.