A depreciation of the dollar will cause an increase in the Consumer Price Index
a. True
b. False
Indicate whether the statement is true or false
True
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For Adam Smith, commercial society is characterized by
A) private property rights. B) specialization in production. C) voluntary exchange. D) all of the above.
Explain the principle of the "second best."
What will be an ideal response?
A deficit in the current account means:
a. Actually, a deficit in the current account is impossible. It must equal zero. b. Imports of goods and services exceed exports of goods and services. c. The sum of the financial and capital accounts is positive. d. The sum of exports of goods and services plus net international income is negative. e. The sum of the financial, capital, and reserve accounts is positive.
Historically, many businesses have preferred specialized task assignment for employees over broad task assignments. Why has this been the case?
What will be an ideal response?