The United States has never suffered through periods of hyperinflation in its history
a. True
b. False
Indicate whether the statement is true or false
True
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Dumping refers to
A) exporting products that do not meet domestic safety standards. B) selling inferior products to unsuspecting consumers. C) illegally avoiding tariffs by selling products on the black market. D) selling a product for a price below its cost of production.
If the real GDP of a country is substantially lower than its nominal GDP, the country experiences low inflation and unemployment
a. True b. False Indicate whether the statement is true or false
The marginal propensity to consume (MPC) is
A. the percentage of real disposable income consumed. B. the percentage of an additional dollar of real disposable income that will go toward additional real consumption spending. C. the percentage of real disposable income saved. D. the rate at which real consumption spending changes over time.
When the price of computer printers decreased from $100 to $85, the number of computer printers produced fell from 1,000 per week to 850 per week. Using this information, we know the supply of computer printers is
A) elastic. B) inelastic. C) unit elastic. D) perfectly inelastic.