Deflation can render monetary policy powerless
a. True
b. False
A
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Kelly has received a $50 check from her Grandparents to help with her expenses at college. She has narrowed her choices of how to spend the money to three: a new backpack, a dinner out with a friend, a fleece vest. Of these she likes the vest best and the backpack least. What is her cost of buying the fleece vest?
a. $50. b. A new backpack. c. A dinner out with a friend. d. Nothing since the money was a gift to her.
Refer to the above table. Nation "A" has a balance of trade
A) deficit of 50. B) surplus of 50. C) deficit of 10. D) surplus of 10.
The concept that suggests that given the available inputs and technology, it is impossible to produce more of one good without decreasing the quantity that is produced of another good is:
a. the law of supply. b. balanced production. c. productive efficiency. d. effective demand.
Exclusive ownership of a key resource
a. is the most common cause of a monopoly. b. is a potential but rare cause of a monopoly. c. explains the monopoly ownership of the US Postal Service. d. explains why a single firm distributes water to a community.