The government could close an inflationary gap by increasing government spending by some amount greater than taxes
Indicate whether the statement is true or false
F
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Income in kind is defined as
A) income received in the form of a paycheck. B) payment for services in the form of cash. C) tips. D) income received in the form of goods and services.
What is an entrepreneur?
What will be an ideal response?
Given a required reserve ratio of 0.25, what is the maximum amount by which the money supply can increase in response to a $200 million increase in excess reserves for the whole banking system?
A. $800 million. B. $200 million. C. $500 million. D. $250 million.
If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, only the United States would benefit from trade if the actual terms of trade between corn and wheat were 2:1.
Answer the following statement true (T) or false (F)