Specialization of labor can result in output increasing at an increasing rate
Indicate whether the statement is true or false
T
Economics
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Comment on the following statement: "A decrease in supply will lead to an increase in the price which decreases demand, thus lowering price. Therefore, a decrease in supply has no effect on the price of a good."
What will be an ideal response?
Economics
The Ricardian Equivalence holds only if
A) the government is altruistic. B) there are no binding credit constraints. C) the government runs deficits. D) the government runs surpluses.
Economics