Globalization has helped to significantly decrease income inequality in the United States
Indicate whether the statement is true or false
FALSE
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Why is the time lag for making fiscal policy changes longer than for making monetary policy changes?
What happened that was unusual during the 1980s?
a. Debt soared due to a war. b. Debt soared during a time of peace. c. Debt plummeted due to a recession. d. Debt plummeted due to tax increases.
A flexible exchange rate system guarantees a country will not experience an exchange rate crisis
Indicate whether the statement is true or false
A. Draw a production possibilities frontier for a country that produces two goods, wine and cheese. Assume that resources are not equally suited to both tasks
b. Define opportunity costs. c. Use your production possibilities frontier graph to demonstrate the concept of opportunity costs. What will be an ideal response?