Internal balance can be graphically represented as the intersection of the IS curve with the LM curve
Indicate whether the statement is true or false
TRUE
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The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. What quantity does the firm produce?
A) 200 calculators per day B) 300 calculators per day C) more than 300 calculators per day and less than 400 calculators per day D) 400 calculators per day
In the Great Depression, the financial sector collapsed, as
A) banks engaged in ruinous competition. B) the stock market boomed, so people withdrew most of their funds from banks and invested heavily in stocks. C) the bond market boomed, so people withdrew most of their funds from banks and invested heavily in bonds. D) many banks closed.
The rapid adoption of Basic Oxygen Furnaces by "Big Steel" (the top six firms) kept the American basic steel industry from falling behind changes in world technology during the 1960s
Indicate whether the statement is true or false
A sales tax is an example of a(n)
a. payments tax b. property tax c. use tax d. excise tax e. company tax