In 2009, Congress passed a bill that involved government spending increases and tax cuts with the purpose of stimulating the U.S. economy. This policy is an example of

Any terms of trade within the limits set by domestic opportunity costs will be mutually harmful, because each country tries to push the other as close to the limits of the terms of trade as possible

a. True b. False Indicate whether the statement is true or false

Compared to a monopolist, the demand curve for a perfectly competitive firm will be

A) as elastic. B) more elastic. C) less elastic. D) perfectly elastic.