The United States has chosen to balance the competing claims of efficiency versus equality by emphasizing greater efficiency over greater equality
a. True
b. False
Indicate whether the statement is true or false
True
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A decrease in the level of capital inside a nation would cause the:
A. long-run aggregate supply curve to shift to the right. B. long-run aggregate supply curve to shift to the left. C. short-run aggregate supply curve to shift to the right. D. aggregate demand curve to shift to the right.
Pure or economic profit is:
A. the amount by which accounting profits exceed normal profits. B. determined by subtracting explicit costs from total revenue. C. the return required to retain entrepreneurial talent in some particular line of production. D. the return to any resource the supply of which is perfectly inelastic.
Why is the price at which the quantity demanded equals the quantity supplied the equilibrium price?
What will be an ideal response?
At the Bretton Woods conference, all currencies were given
A) a fixed value. B) a variable value. C) a par value. D) a floating value.