Deflation refers to time periods when the buying power of money in terms of goods and services decreases
a. True
b. False
Indicate whether the statement is true or false
False
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The range of output for a duopoly ranges between the
A) perfectly competitive outcome and the monopolistically competitive outcome. B) efficient scale and the perfectly competitive outcome. C) minimum of ATC and the efficient scale. D) monopoly outcome and the perfectly competitive outcome. E) short-run perfectly competitive outcome and the long-run perfectly competitive outcome.
Which of the following is true of a small open economy, but not of a large open economy?
A) Net exports are unlikely to be close to zero. B) The domestic real interest rate is equal to the world real interest rate. C) Changes in desired investment result in changes in the trade balance. D) Changes in desired investment result in changes in actual investment. E) none of the above
Future generations will be hurt by a high national debt if incurring the debt
A. was done to pay Social Security recipients. B. resulted in heavy commitments to bail out business firms. C. increased formation of capital. D. slowed the formation of capital.
The argument that rising energy prices caused the decline in U.S. productivity in the 1970s is made less believable due to the
A. falling level of saving in the 1970s. B. falling level of energy prices in the 1980s. C. rising level of energy prices in the 1980s. D. rising level of energy prices in the 1990s.