Political instability is an obstacle to development in:
A. both market and socialist economies.
B. neither market nor socialist economies.
C. market economies.
D. socialist economies.
Answer: A
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The price system rations goods among consumers in such a way that
A. all are treated equally. B. all needs are satisfied. C. the rich are favored. D. important needs are satisfied first.
Total surplus is always equal to the sum of consumer surplus and producer surplus
a. True b. False Indicate whether the statement is true or false
In the late 1970s, proponents of rational expectations argued that
a. the Fed should not attempt to aggressively fight inflation. b. the sacrifice ratio was smaller than previously thought. c. the short run was relatively long. d. None of the above is correct.
As interest rates fall, spending decreases.
Answer the following statement true (T) or false (F)