The Ramsey Rule implies that goods be __________ in consumption.
A. unrelated
B. equal
C. opposite
D. moderate
A. unrelated
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The term "currency drain" refers to an increase in currency held outside banks
Indicate whether the statement is true or false
________ is defined as first pricing below fair value to drive domestic firms from the market and then pricing as monopolists
A) Predatory subsidization B) Monopoly subsidization C) Predatory dumping D) Monopoly dumping
In a principal-agent problem, if the contract used leads to the maximum of the principal's and agent's combined value (profits, payoffs), we can say that this contract features
A) inefficiency in production, since only the principal's profits should be maximized. B) inefficiency in production, since only the agent's payoffs should be maximized. C) efficiency in production. D) inefficiency in production, since the agent's payoffs should be maximized and the principal's profits should be minimized.
A cut in government spending, a decrease in income abroad, an increase in taxes, or an expectation that future consumer income will fall will all cause aggregate:
a. demand to shift rightward. b. demand to shift leftward. c. supply to shift rightward. d. supply to shift leftward. e. supply and aggregate demand to both shift equally inward.