Ricardian equivalence requires that saving by the private sector decreases when the deficit increases
Indicate whether the statement is true or false
FALSE
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When the central banks of various countries intervene in the foreign exchange market to maintain an exchange rate, this type of exchange rate system is called a ________ exchange rate system
A) fixed B) flexible C) all of the above D) none of the above
In order to acquire more of a good we must sacrifice production of another good, because resources are in limited supply. This illustrates the concept of: a. the division of labor. b. ceteris paribus
c. opportunity cost. d. specialization.
As a rule, the more of a commodity a consumer acquires, the smaller will be her total utility from that good
a. True b. False Indicate whether the statement is true or false
Demand is more inelastic for luxury goods.
Answer the following statement true (T) or false (F)