The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending.
B. recessionary gaps.
C. expansionary gaps.
D. unemployment.
Answer: B
Economics
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Bill Gates wants billions of dollars, and has them. Buddha wanted nothing, and had nothing. What can an economist conclude?
A) Gates is wealthy, Buddha wasn't. B) Buddha was wealthy, Gates isn't. C) Gates is wealthy, and so was Buddha. D) Nothing
Economics
Jamal buys a new jacket for $50 . If his willingness to pay is ____, he receives consumer surplus of $15 on his purchase
a. $15. b. $35. c. $50. d. $65.
Economics