Which of the following would not be considered a role of the government?
a. promoting competition
b. providing public goods
c. providing externalities
d. regulating natural monopolies
e. safeguarding private property and enforcing contracts
C
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Which of the following statements is true?
A) An increase in the nominal wage rate leads to a decrease in the real wage rate if the price level is stable. B) In an economy which has a positive inflation rate, the real wage rate is always greater than the nominal wage rate. C) An increase in the real interest rate always encourages higher savings. D) An increase in the real interest rate might discourage savings.
All of the points inside a production possibilities frontier are ____; all of the points outside the production possibilities frontier are ____.
A. efficient; inefficient B. optimal; irrational C. attainable; unattainable D. rational; zero-cost E. unattainable; efficient
If the price of a good ____________, the demand for its complements will __________
A) rises; fall B) falls; rise C) falls; fall D) rises; rise E) a and b
What's meant by the NAIRU (Natural Rate of Unemployment)?
A. It is the full-employment unemployment rate B. It is the unemployment rate at which there is only frictional and structural unemployment C. it is the unemployment rate at which the labor market has fully adjusted D. all of the above