Explain briefly why you think the following statement is true, false, or ambiguous.
Competitive currencies would work automatically to provide consumers with protection against inflation.
The given statement is true. We can draw evidence from the paper by 'Thomas L. Hogan' on ' Competition on currency- The potential for private money'. which states that competitive currencies can lower inflation and the paper draws this conclusion from the fact that the competitive production of currency helped the U.S. economy achieve low levels of price inflation. We can also conclude that the above statement is true as when the currency is competitive, there will be no shortage or surplus of the currency. Therefore, changes in money supply won't cause inflation.
Explain briefly why you think the following statement is true, false, or ambiguous. Competitive currencies would...
True False-Ambiguous and Explain why 2. Carino's, Axe Company operates in a monopolistically competitive market and, like most firms in the industry, has been earning an above-normal profit. Therefore, it is likely to increase its price in the future. Draw a graph.
Mark the following statement True or False. If you believe that the statement is false, briefly explain why you think it is false. To guarantee a margin of error of 0.034 for the population proportion p, a survey needs to have at least 1,050 respondents (assuming that the results are presented with 95% confidence). Select the correct choice below and, if necessary, fill in the answer box to complete your choice. O A. The statement is false. Without more information,...
Indicate whether the following statement is true or false and then explain why you think this is. Include in your explanation any pertinent institutional details, empirical studies and/or economic reasoning (including appropriate graphs and equations) Universal health coverage cannot exist when asymmetric information is present.
Mark the statement true or false. If you believe that the statement is false, briefly explain why you think it is false If VIF(X2) = 1, then we can be sure that collinearity has not inflated the standard error of the estimated partial slope for X, Choose the correct answer below. O A. False. Only NIF(X) = 0 can we be sure that collinearity has not inflated the standard error of the estimated partial slope for X, OB. False. Only...
True False-Ambiguous and Explain why 6. Suppose that a single-price monopolist bought up all the firms in a competitive industry and was able to block new firms from entering. In this case, consumer surplus would fall, a deadweight loss would arise, and the firm would earn positive economic profits. Draw a graph.
Briefly explain and illustrate whether the following statement is true or false: ‘When there is a shortage of a good, consumers eventually give up trying to buy it, so the demand for the good declines, and the price falls until the market is finally in equilibrium’.
Briefly explain and draw a graph whether the following statement is true or false: ‘When there is a shortage of a good, consumers eventually give up trying to buy it, so the demand for the good declines, and the price falls until the market is finally in equilibrium’.
1. Evaluate whether the statement is true or false. Explain why Competitive firm never produces when it is making a negative profit. a. b. In cost minimization, as wage increases, a firm will always decreases labour input Long run market supply curve in perfect competition is horizontal C. d. If price is lower than equilibrium price, consumer surplus is higher than the equilibrium since consumers can enjoy lower price. 1. Evaluate whether the statement is true or false. Explain why...
04.4. Do you think the following statement is true, partly true, or false? "Autonomic nervous system drugs like these do not require receptors throughout the heart because their main effect is simply at the pacemaker cells." Briefly explain.
Determine if the following statement is true or false. If you believe that the statement is false, briefly explain why you think it is false The chi-squared test of independence only detects linear association between variables in a contingency table. Choose the correct answer below. O A. The statement is true. O B. The statement is false because the test determines if two proportions are equal not if there is a linear association between the variables OC. The statement is...