Increased optimism about the future leads to rising prices and falling unemployment in the short run
a. True
b. False
Indicate whether the statement is true or false
True
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A country cannot achieve economic growth with a limited base of natural resources.
Indicate whether the statement is true or false.
Which of the following best describes a steady state?
A) Political stability is maintained by the state. B) The standard of living is increasing at a stable rate. C) Each firm in the economy receives a steady stream of income. D) Output per worker, consumption per worker, and capital per worker are constant.
A characteristic of a public good is
A) rival consumption. B) the exclusion principle. C) the free-rider problem. D) clear property rights.
A monopolistic firm is a:
a. price taker that faces the market supply curve. b. price taker that faces the market demand curve. c. price maker that faces the market supply curve. d. price maker that faces the market demand curve.