The U.S. government uses discount rates that lead to consistent outcomes.
A. True
B. False
C. Uncertain
B. False
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To measure economic welfare, one needs only to measure real GDP
Indicate whether the statement is true or false
Customers are usually more willing to pay more for the first unit of a good they purchase than for the second, third, or subsequent units. This implies that
A) typical consumers are irrational. B) firms are using non-linear price discrimination. C) firms are unable to determine their customers' reservation prices. D) typical consumers have a downward sloping demand curve.
Other things held constant, private disposable oncome would increase if
A. Taxes increase B. Government transfers increase C. Consumption increases D. Government purchases increase.
Refer to the following graph.
Since the supply curve intersects the horizontal axis, all the points along the supply curve shown are inelastic.
Answer the following statement true (T) or false (F)