The share of GDP taken by taxes is considerably higher in the United States than in other countries
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Suppose that Rosie and Betty spend their free time making cakes and cookies
Is it possible for Betty to have an absolute advantage in the production of both cakes and cookies? Is it possible for Betty to have a comparative advantage in the production of both cakes and cookies? Explain.
Economics
A substantial decrease in the aggregate price level that reduces firms' net worth may stall a recovery from a recession. This process is called
A) debt deflation. B) moral hazard. C) insolvency. D) illiquidity.
Economics