Which statement is false?
A. The 1990s was one of the most prosperous decades in the United States' history.
B. The United States' economy reached its tenth year of steady expansion in the spring of 2001.
C. Compared to other decades, the 1990s was a decade was unique in that it had strong economic growth with no recessions.
D. At the end of the 1990s, the government was running budget surpluses.
C. Compared to other decades, the 1990s was a decade was unique in that it had strong economic growth with no recessions.
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The key economic difference between expected utility and expected value is that
A) expected value only considers the value of outcomes, whereas expected utility considers the tradeoff between value and risk. B) expected utility only considers the value of outcomes, whereas expected value considers the tradeoff between value and risk. C) expected utility is the maximum value obtained, whereas expect value is the mean of the values from a set of possible outcomes. D) None of the above—the differences are mathematical not economic.
For the monopolistically competitive firm, the demand curve it faces will be steeper the:
A. more easily the good can be substituted. B. less easily the good can be substituted. C. more complement goods are available. D. less complement goods are available.
The sticky-price theory helps explain what feature of the aggregate demand and aggregate supply model?
The United States and China have significant trade with each other. Which of the following is true?
A. U.S. prices decrease ? U.S. imports decrease ? Chinese prices decrease B. U.S. prices decrease ? U.S. exports increase ? Chinese prices increase C. U.S. prices increase ? U.S. exports increase ? Chinese prices increase D. U.S. prices increase ? U.S. imports increase ? Chinese prices decrease