The price system ultimately determines the allocation of resources among producers.
Answer the following statement true (T) or false (F)
True
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An appreciation of the U.S. dollar would shift the:
A) aggregate demand curve rightward. B) aggregate demand curve leftward. C) aggregate supply curve rightward. D) aggregate supply curve leftward.
Unanticipated inflation will insure that
A) homeowners with outstanding mortgage balances are hurt. B) homeowners with outstanding mortgage balances are benefited. C) creditors gain, debtors lose. D) none of the above
In order to have adequate water access, based on the World Bank definition, there should be
A. A public lake or stream within a mile of everyone's home. B. Indoor plumbing in at least one-quarter of the homes in a country. C. A private water pipe outside everyone's home. D. A protected public water pipe within half a mile of everyone's home.
Which of the following accurately shows how world trade has changed since 1950?
a. Average tariff rates are under 5%. b. The Smoot-Hawley tariff was passed. c. International trade has fallen sharply. d. Tariffs and quotas have increased.