The United States' most important trading partner in terms of dollar volume is:
A. Mexico.
B. Canada.
C. Germany.
D. China.
B. Canada.
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A perfectly competitive industry's market or "going" price is established by
A. the largest purchaser of this industry's output. B. the forces of supply and demand. C. the largest firm in the industry. D. each individual producing firm and reflects that firm's costs.
Ceteris paribus, an increase in the money supply will lower short-term interest rates
Indicate whether the statement is true or false
Neo-Keynesians believe that the market power exercised by unions, monopolies, and particular resource suppliers created the Phillips curve
Indicate whether the statement is true or false
In terms of improving the standard of living of the poor, one drawback on the earned income tax credit (EITC) is that:
A. it provides no benefits to people who are unemployed. B. it's only available to individuals whose incomes are above a certain threshold. C. it provides workers with in-kind transfers. D. it gives firms a strong incentive to lay off low-wage workers.