There is no role for government in a free enterprise economy such as the United States.
Answer the following statement true (T) or false (F)
False
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The range of output for a duopoly ranges between the
A) perfectly competitive outcome and the monopolistically competitive outcome. B) efficient scale and the perfectly competitive outcome. C) minimum of ATC and the efficient scale. D) monopoly outcome and the perfectly competitive outcome. E) short-run perfectly competitive outcome and the long-run perfectly competitive outcome.
In a persisting demand-pull inflation,
A) aggregate supply decreases and aggregate demand increases. B) aggregate demand decreases and aggregate supply decreases. C) aggregate demand increases and potential GDP decreases. D) aggregate supply increases and aggregate demand increases. E) None of the above answers is correct.
General sales taxes totaled 226.7 billion dollars as a source of state revenue in 2008.
A. True B. False C. Uncertain
Under the assumptions of the new Keynesian model, an increase in aggregate demand will
A) increase prices and output in the short-run. B) lead to a decrease in unemployment and an increase in prices in the short run. C) lead to an increase in the nominal wage rate in the long run and a decrease in unemployment in the short run. D) All of the above are correct.