Countries with the
A) biggest deflations and output contractions are countries which were never on the gold standard until 1936.
B) biggest inflations and output contractions are countries which were on the gold standard until 1936.
C) lowest deflations and output contractions are countries which were on the gold standard until 1936.
D) biggest deflations and output increases are countries which were on the gold standard until 1936.
E) biggest deflations and output contractions are countries which stayed on the gold standard until 1936.
E
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How do increasing returns to scale affect the shape of the long-run average cost curve?
What will be an ideal response?
Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, total consumer and producer surplus will be
A) $1.50. B) $300. C) $450. D) $500. E) $600.