Deflation is a great economic problem because...
What will be an ideal response?
prices and wages fall but debts remain the same
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The average cost curve shows the total cost divided by quantity produced for various levels of output.
Answer the following statement true (T) or false (F)
An indication that Insurance companies anticipate adverse selection is
a. they do not require a deductible b. they do not classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they require a co-payment
The supply curve of U.S. dollars in the foreign exchange market is:
a. downward-sloping because it is negatively related to U.S. exports. b. downward-sloping because it is negatively related to U.S. imports. c. upward-sloping because it is positively related to U.S. exports. d. upward-sloping because it is positively related to U.S. imports. e. horizontal because it is unrelated to foreign demand for U.S. goods and services.
In 1820 the country with the highest per capita GDP was ______________________. In 1900 the country that ranked #1 in terms of per capita GDP was ___________________ and fifty years later the top ranking was held by _________________________
A) the Netherlands; New Zealand; the United States. B) the Netherlands; Australia; Switzerland. C) the United States; the United States; the United States. D) Austria; Australia; New Zealand.