In the United States since 1970, how has the use of credit cards affected the demand for M1 as a percentage of GDP?
What will be an ideal response?
Since 1970, credit cards have become more widespread. As a result, the demand for M1 as a percentage of real GDP has decreased.
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Because monopolists are protected by high barriers to entry, they:
A. may be able to earn long-run economic profits. B. will not minimize the per-unit cost of producing their output. C. will price their product at the highest possible price. D. seek economic profit; however, they are not able to earn it in the long run.
Every international transaction recorded in the balance of payments has both a credit item and a debit item. In the case of a U.S. foreign aid, a debit in the balance of payments, what is the offsetting credit? Explain.
What will be an ideal response?
If a person were in the 20% tax bracket and given the choice of a $500 credit or a $2500 deduction,
A. he would not care. They would constitute the same tax benefit. B. he would take the credit every time. C. he would not qualify for either. D. he would take the deduction every time.
A decrease in taxes should be applied in a situation with
A) a recessionary ga