The United States has a much higher national debt as a percentage of GDP compared to other industrialized nations
a. True
b. False
Indicate whether the statement is true or false
False
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All of the following can cause technological progress EXCEPT
A) population decreases. B) free trade. C) education. D) research and development.
In the short run, changes in output can only be brought about by a change in the quantity of variable inputs
Indicate whether the statement is true or false
Everything else held constant, an increase in the required reserve ratio on checkable deposits causes the M1 money multiplier to ________ and the money supply to ________
A) decrease; increase B) increase; increase C) decrease; decrease D) increase; decrease
Prices under an ideal cartel situation will be equal to
A) monopoly prices. B) competitive prices. C) prices under monopolistic competition. D) marginal cost.