Wealth inequality persists across generations due, in part, to assortative mating
Indicate whether the statement is true or false
TRUE
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Suppose Mexico and the United States are on the gold standard. If there is a half an ounce of gold in the dollar, and one quarter an ounce of gold in the peso, then the exchange rate is
A) $0.50 = 1/2 peso. B) $1 = 1/4 peso. C) $1 = 2 pesos. D) $1 = 4 pesos. E) $1 = 1/2 peso.
When compared with China, the growth of clothing exports originating in Bangladesh is the result of
A) the comparative advantage that Bangladesh has in the production of clothing for export. B) the absolute advantage that China has in the production of clothing for export. C) the absolute advantage that Bangladesh has in the production of clothing for export. D) the comparative and absolute advantage that China has in the production of clothing for export. E) the comparative and absolute advantage that Bangladesh has in the production of clothing for export.
When a firm leaves a perfectly competitive industry,
A. the individual demand curves facing remaining firms shift toward the point of minimum average cost in the long run. B. short-run industry equilibrium is reestablished at a new point along the original short-run industry supply curve. C. the short-run industry supply curve shifts to the right. D. at the new long-run equilibrium, the remaining firms in the industry will each receive a higher profit.
During the debate on the stimulus package in 2009 and 2010, Republicans argued in favor of increased government spending as opposed to tax cuts based in part on the impact government spending would have on aggregate supply
a. True b. False Indicate whether the statement is true or false