Stagflation results from continued decreases in aggregate demand
a. True
b. False
Indicate whether the statement is true or false
False
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If regulators force a natural monopoly to price as a perfectly competitive firm would, the natural monopolist
A) will experience a lower marginal cost. B) will earn an economic loss. C) will expand its output. D) will experience a rise in long-term average costs.
The text suggests that if economists had a mantra, it would be:
A. justice is the measure of all things. B. trade is good. C. when one person benefits, another is hurt. D. do unto others before they do unto you.
One of the external costs associated with illegal methamphetamine production is the
A. increased difficulty illegal methamphetamine producers face in obtaining their ingredients. B. increased difficulty of purchasing some over-the-counter cold medications. C. increased difficulty of purchasing some over-the-counter cold medications as well as a substitution of somewhat less effective ingredients in some over-the-counter cold medications. D. substitution of somewhat less effective ingredients in some over-the-counter cold medications.
The Federal tax system is:
A. Proportional while state and local tax structures are largely progressive B. Progressive while state and local tax structures are largely regressive C. Regressive while state and local tax structures are largely proportional D. Regressive while state and local tax structures are largely progressive