According to the classical economists' views of the Federal Reserve, the best countercyclical policy is no countercyclical policy
Indicate whether the statement is true or false
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Which of the following do not suffer the costs of inflation?
A) firms that have to devote more time and labor to raising prices B) persons on fixed incomes C) persons whose incomes rise more rapidly than inflation D) an investor that has to pay higher taxes because of the inflation
The larger the multiplier, the more stable the economy
a. True b. False
Some nations are increasing the amount of land covered by forests, while others are experiencing rapid deforestation. According to economists, this is largely because:
A. different nations have different ethical views regarding treatment of the environment. B. nations with increasing forest cover have poorly enforced or nonexistent property rights. C. nations with declining forest cover treat forests as private property or strictly regulated government property. D. nations with increasing forest cover treat forests as private property or strictly regulated government property.
At an output of zero, total cost = ________________.
Fill in the blank(s) with the appropriate word(s).