If interest rates in Europe fall below interest rates in the United States, then, other things equal, the demand for euros will decrease
a. True
b. False
Indicate whether the statement is true or false
True
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According to the AS-AD model, when real GDP exceeds potential GDP, the unemployment rate is definitely
A) less than the natural unemployment rate. B) greater than the natural unemployment rate. C) rising. D) falling. E) equal to the natural unemployment rate.
A tax is efficient if it imposes a large excess burden relative to the tax revenue it raises
Indicate whether the statement is true or false
The primary characteristic of a public good is that it is nonrivalrous in consumption.
Answer the following statement true (T) or false (F)
Susan Sneed gave up her $55,000 job at ACC, Inc to return to college to change careers. She reduced her wardrobe to cheaper jeans and t-shirts, paid $5,000 in tuition, continued to make her family's $1,200 per month home mortgage payments, and bore the burden of a variety of inane comments about the stupidity of older students giving up good paying jobs to return to school. Which of the above
items is not needed to determine the opportunity cost of her return to college? a. her $55,000 ACC, Inc. salary b. the altered wardrobe costs c. the $5,000 tuition expense d. her family's $1,200 per month mortgage expense e. psychological stress from inane comments