It seems likely that economic sanctions ultimately would have led to regime change in Iraq
Indicate whether the statement is true or false
FALSE
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For a perfectly competitive firm, marginal revenue equals average revenue because the
a. firm's supply curve is horizontal. b. industry's demand curve is horizontal. c. firm's demand curve is horizontal. d. industry's supply curve is horizontal.
Suppose prices for new homes have risen, yet sales of new homes have also risen. We can conclude that:
A. the demand for new homes has risen. B. the law of demand has been violated. C. new firms have entered the construction industry. D. construction firms must be facing higher costs.
Which of the following models best represents the relationship of income to output?
a. a pyramid b. a circle c. a spectrum d. a web
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease