There would be no inflationary gap or recessionary gap if _______ were equal to ______.
Fill in the blank(s) with the appropriate word(s).
equilibrium GDP; full employment GDP
Economics
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Refer to Figure 2-14. Which country has a comparative advantage in the production of popsicles?
A) Greenland B) They have equal productive abilities. C) Iceland D) neither country
Economics
Prejudice leads, inevitably, to economic discrimination.
Answer the following statement true (T) or false (F)
Economics
If the MPC is 0.5 and the tax rate is 10%, a $500 increase in autonomous government purchases will increase equilibrium income by
A) $225. B) $280. C) $910. D) $1,110.
Economics
If bond prices and interest rates are plotted on a graph, the curve has a positive slope.
Answer the following statement true (T) or false (F)
Economics