Based on the evidence, most economists believe that the self-correcting mechanism operates
A. slowly with prices, but quickly with wages.
B. slowly with wages, but quickly with prices.
C. very slowly with wages.
D. efficiently, so that stabilization policy is not necessary.
Answer: C
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In equilibrium, the quantity of labor demanded is ________ the quantity of labor supplied
A) less than B) equal to C) greater than D) the primary determinant of
If a country produces only two goods, then it is not possible to have an absolute advantage in the production of both goods
Indicate whether the statement is true or false
Refer to the graph shown. If a natural monopolist were not regulated, the firm would charge:
A. P1. B. P2. C. P3. D. P4.
If there is no one who is interested in borrowing from a bank:
A. the bank's excess reserves will be zero. B. there will be no process of money creation. C. the required reserve ratio must be equal to zero. D. the required reserve ratio must be equal to 100 percent.