Deflation:
a. under the current trends will cause consumers' purchasing power to shrink.
b. has been persistent in the U.S. economy since the Great Depression.
c. was prevalent during the oil shocks of the 1970s.
d. none of these choices.
d
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The vicious circle of poverty refers to the fact that in LDCs,
a. low living standards lead to declines in population growth. b. too much spending leads to periods of recession. c. people are poor because too much is spent on capital goods. d. there are not enough people in the under-15 age groups. e. poverty leads to low investment in capital goods.
When perfect price discrimination comes in the form of a two-part tariff, one part of the "tariff" just covers marginal costs.
Answer the following statement true (T) or false (F)