If goods are completely unrelated, their cross price elasticity will
A) be greater than one.
B) be less than one.
C) be equal to zero.
D) be negative.
C
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If Congress authorized the President to lower tax rates or to initiate spending projects when aggregate demand was inadequate, which consequence could be predicted most confidently?
A) Aggregate spending would be more stable over time. B) Recessions would be less severe. C) Recessions would occur less frequently. D) The political power of the President would increase. E) We would experience a lower rate of inflation.
In capitalism,
there is no competition most property is privately owned the government sets most prices there is no freedom
Under a flexible exchange rate system, one factor that does NOT directly affect rates of exchange is
A) changes in the inflation rate in each country. B) changes in productivity in each country. C) changes in gold holdings in each country. D) changes in economic stability in each country.
Indifference curves can never cross on a preference map.
Answer the following statement true (T) or false (F)