The United States represents a pure command system, with government directly accounting for a little more than one-half of all economic activity
Indicate whether the statement is true or false
false
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Refer to the above figure. The profit maximizing price for a monopolistic competitor is
A) P1. B) P2. C) P3. D) P4.
Consider the following ratio: the average annual inflation rate/the average annual money growth rate. A country with a ratio less than one would have:
A. to have a high unemployment rate. B. an economy suffering from a recession. C. an average inflation rate less than the average rate of money growth. D. an average inflation rate greater than the average rate of money growth.
One-shot inflation can be caused by
A) increases in aggregate demand only. B) decreases in aggregate supply only. C) either increases in aggregate demand or decreases in aggregate supply. D) neither increases in aggregate demand nor decreases in aggregate supply.
All of the following represent differences between stocks and bonds except
A) a stock can possibly pay dividends forever, but bonds have a fixed number of payments. B) differences of opinion about a stock's future may vary considerably but there is less difference about a bond's future. C) the future growth of a stock is more uncertain than the payments of a bond. D) bonds represent partial ownership in a firm but stocks do not.