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true or false IMPLICIT COSTS DO NOT REQUIRE CASH OUTLAYS BUT ARE OVERHEAD EXPENSES. THE LONG...

true or false

  1. IMPLICIT COSTS DO NOT REQUIRE CASH OUTLAYS BUT ARE OVERHEAD EXPENSES.

  1. THE LONG RUN PHILLIPS CURVE IS A VERTICAL LINE CURVE AND IS INDEPENDENT OF INFLATION.

  1. INTERNATIONAL TRADE= OPEN SYSTEM = GLOBALIZATION = GLOBAL MANAGEMENT

  1. PROTECTIONISM = CLOSED SYSTEM = AUTARKY

  1. BUDGET SURPLUS= TAX REVENUES > G AND CONTRIBUTES TO ECONOMIC GROWTH.

Solutions

Expert Solution

Q- True or False

  1. IMPLICIT COSTS DO NOT REQUIRE CASH OUTLAYS BUT ARE OVERHEAD EXPENSES.

      Answer- True

      2. THE LONG RUN PHILLIPS CURVE IS A VERTICAL LINE CURVE AND IS INDEPENDENT OF INFLATION

      Answer- True

      3. INTERNATIONAL TRADE= OPEN SYSTEM = GLOBALIZATION = GLOBAL MANAGEMENT

      Answer- True.

4. PROTECTIONISM = CLOSED SYSTEM = AUTARKY

      Answer- True.

      5. BUDGET SURPLUS= TAX REVENUES > G AND CONTRIBUTES TO ECONOMIC GROWTH.

      Answer- True

Rahul Sunny answered 2 years ago
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