Tariffs tend to escalate with stages of processing
Indicate whether the statement is true or false
TRUE
Explanation: This can be explained by the notion that governments are acting to preserve effective levels of protection for all sectors of the economy.
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The nominal interest rate is:
A. not adjusted for inflation. B. the interest rate paid by savers. C. the interest rate paid to borrowers. D. the price level adjusted interest rate.
Since it is always a negative number, economists use the convention of taking the absolute value of
a. income elasticity of demand b. cross price elasticity of demand c. price elasticity of supply d. price elasticity of demand e. any elasticity calculation
Define the following terms and explain their importance to the study of macroeconomics:
a. exchange rate b. depreciation c. devaluation d. fixed exchange rates
In 2014, the largest source of receipts for state and local governments was corporate income taxes
a. True b. False Indicate whether the statement is true or false