Competition in the form of advertising, better customer service, or longer warranties can also reduce profits by raising costs
Indicate whether the statement is true or false
TRUE
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The purchasing power parity predicts that if the price level in the US falls relative to Mexico,
a. The dollar will appreciate relative to the peso b. The dollar will depreciate relative to the peso c. There is no effect on either currency d. PPP predicts price level will normalize in the long-run
Individuals will have different value judgments about the appropriate rate of unemployment and the appropriate rate of inflation.
Answer the following statement true (T) or false (F)
As the large baby-boom generation moves into the retirement phase of life, this will
a. make it easier for the federal government to finance its budget deficit because the baby-boomers will be the wealthiest generation of retirees in American history. b. make it easier for the federal government to reduce spending because senior citizens do not spend much on consumption. c. make it more difficult for the federal government to finance its budget deficit because the retirement of the baby-boomers will mean more expenditures for Social Security and Medicare. d. not affect the federal deficit because there is no reason to expect that either federal spending or tax revenues will be influenced by the retirement of the baby-boomers.
The unemployed who quit their jobs, were fired for cause, or just entered the labor force are eligible for unemployment insurance
a. True b. False Indicate whether the statement is true or false