When we compare PAE and actual output (Y) the macroeconomic variable we generally use to directly assess their equivalence is:
A. unemployment.
B. interest rates.
C. inventories.
D. capital expenditure.
C. inventories.
You might also like to view...
Who said the nation was "ill-fed, ill-clothed, and ill-housed?"
A. Herbert Hoover B. Franklin D. Roosevelt C. Lyndon B. Johnson D. Jimmy Carter
Use the following graphs to answer the next question.
The long-run equilibrium for a monopolistically competitive firm is represented by graph
A. A. B. B. C. C. D. D.
U.S. taxpayers spend many hours during the year maintaining records for tax purposes and preparing their income tax returns. This administrative cost
A) is part of the deadweight loss of taxation. B) is larger for individuals in the lowest income quintile than for individuals in the highest income quintile. C) is equal to the value of consumer surplus associated with the income tax system. D) can be claimed as a deduction on income tax returns.
Compare market price and quantity of steel to socially optimal price and quantity if steel producers ignore soot emitted from their smokestacks. Use a graph to assist your explanation
What will be an ideal response?