In a free trade area, member nations have no trade barriers among themselves but are free to set their own trade policies toward nonmembers
a. True
b. False
Indicate whether the statement is true or false
True
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If the Central Bank of Macroland puts an additional 1,000 dollars of currency into the economy, the public deposits all currency into the banking system, and banks have a desired reserve/deposit ratio of 0.20, then the banks will eventually make new loans totaling ________ and the money supply will increase by ________.
A. $1,000; $5,000 B. $1,000; $1,000 C. $4,000; $4,000 D. $4,000; $5,000
Which of the following statements is true?
a. Competitive markets result in the socially efficient price and quantity when externalities exist. b. Command-and-control regulations set an environmental goal and dictate how the goal will be achieved. c. Economists prefer command-and-control regulations to incentive-based pollution programs. d. An effluent tax is a tax imposed on rich people.
(Consider This) The lines on a topographical map are analogous to a(n):
A. series of demand curves. B. series of supply curves. C. indifference map. D. series of budget constraints.
Explain why the economic analysis of monopolistic competition is so complex
What will be an ideal response?