Suppose that Bill and Ted use a tit-for-tat scheme to encourage cartel pricing and Bill chooses the low price for a single month. Bill and Ted will deviate from cartel pricing for two months.
Answer the following statement true (T) or false (F)
False
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When the interest rate falls in the money market, the quantity of money demanded ________ and the quantity of money supplied ________
A) increases; decreases B) decreases; increases C) stays the same; decreases D) increases; stays the same
Answer the following statements true (T) or false (F)
1. The tax base is the percentage at which the tax is levied. 2. A sales tax is sometimes said to be regressive because the rate at which it is assessed declines as more and more taxable items are purchased. 3. The sales tax is proportional with respect to the tax base of the amount of purchases. 4. Automobile license fees and gasoline taxes are based on the benefit-received theory of taxation. 5. An excise tax can be shifted relatively easily.
The term "dollarization" refers to the adoption of the U.S. dollar by a foreign country as its currency
a. True b. False Indicate whether the statement is true or false
Economist Douglass North's definition of institutions:
A. includes laws enforced by the government as well as cultural norms. B. is the humanly devised constraints that shape human interactions. C. is the rules of the game in a society. D. All of these statements are true.