Deflation occurs when
A) there is a sustained increase in the price level.
B) there is a one-time increase in the price level.
C) there is a decrease in the expected rate of inflation.
D) there is a decline in the price level.
D
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A negative externality is internalized when __________ until the socially optimum level of production is obtained.
A. supply shifts to the left B. supply shifts to the right C. demand shifts to the right D. b and c E. none of the above
In general, countries export products they can produce more cheaply in return for products that are unavailable domestically or are cheaper elsewhere
Indicate whether the statement is true or false
The human consequences of the Great Depression did not include
A. homeless families. B. closed factories. C. bankrupt farmers. D. soup lines. E. redistribution from the rich to the poor.
Which of the following is true?
A) A country experiencing a debt or currency crisis would contact the World Trade Organization. B) The World Trade Organization was formed at the Bretton Woods conference. C) The General Agreement on Tariffs and Trade created the World Trade Organization in the negotiations and treaty known as the Uruguay Round. D) The World Trade Organization has no power to resolve trade disputes and to enforce their resolution.