In the long run, the price level is determined by aggregate supply
a. True
b. False
Indicate whether the statement is true or false
False
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Between 1972 and 1999, the majority of loans to HIPC countries went to regimes considered "not free," and between 1985 and 1995, to places that were considered "corrupt" by international organizations
Indicate whether the statement is true or false
Ricardian equivalence will fail to hold if:
A. people increase their spending when they receive a tax rebate check. B. people save, and do not increase their spending when they receive a tax rebate check. C. intended expansionary effects of tax policy fail to occur. D. All of these.
Economic conflict(s) leading to the Civil War ___________________________.
A. were over tariffs and the extension of slavery into the new territories B. was the growing free trade with England C. was Abraham Lincoln freeing the slaves D. None of the choices are true
Will a home monopolist prefer a quota or a tariff to protect its output?
a. The home monopolist will prefer a tariff, because a tariff allows it to earn higher profits than a quota. b. The home monopolist will prefer a quota, because a quota may allow it to earn higher profits than a tariff. c. It is immaterial to the home monopolist because it will earn the same higher profits with each form of protection. d. The home monopolist will prefer neither, because it earns higher profits in a free-trade situation.