Actual investment equals intended investment only when the economy is in macroequilibrium
Indicate whether the statement is true or false
T
Economics
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Consider a society consisting of just a farmer and a tailor. The farmer has 10 units of food but no clothing. The tailor has 20 units of clothing but no food. Suppose each has the utility function U = F ? C. The price of clothing is always $1
If the price of food is $3, does a competitive equilibrium exist? If not, what will happen to the price of food?
Economics
Military force is most effective _____
a. when a country's army has superior numbers b. when a country's navy is superior c. if it causes the other side to back down d. if it causes the other side to waste resources
Economics