Since it spent over $3.6 trillion in 2010, opportunity cost was not an issue for the U.S. government
a. True
b. False
Indicate whether the statement is true or false
False
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Government spending conducted for the purpose of achieving full employment, price stability, or economic growth is an example of
A) fiscal policy. B) monetary policy. C) interest-rate policy. D) exchange-rate policy.
A "market" is an arrangement that allows people to exchange things
Indicate whether the statement is true or false
A firm could be engaged in successful predatory pricing if: a. It charged prices greater than the average variable cost of production. b. It did not drive rivals out of the market
c. It did not raise its prices after its predatory price cutting. d. None of the above is true.
Advocates of the minimum wage admit that it has some adverse effects, but they believe that these effects are small and that a higher minimum wage makes the poor better off
a. True b. False Indicate whether the statement is true or false