If absolute PPP holds, then the real exchange rate must equal 1

Indicate whether the statement is true or false


TRUE

Economics

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The trade-offs between inflation and unemployment experienced in the 1970s and 1980s indicated to neo-Keynesians that the long-run Phillips curve was

a. horizontal b. upward sloping c. downward sloping d. vertical e. undefined

Economics

If your income increases from $30,000 to $40,000 and your savings increases from $2,000 to $4,000, your marginal propensity to save (MPS) is:

A. 0.2. B. 0.4. C. 0.5. D. 0.8.

Economics

All goods that generate external benefits are public goods.

Answer the following statement true (T) or false (F)

Economics

State and local taxes as a group seem to be mildly progressive, but federal taxes as a group seem to be mildly regressive.

Answer the following statement true (T) or false (F)

Economics