Friedman and Phelps believed that the natural rate of unemployment was constant
a. True
b. False
Indicate whether the statement is true or false
False
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Needs-tested spending
A) is directing government spending and taxes to states that need the most hel
When faced with an economic loss, a competitive firm will shut down its operations in the short run
a. True b. False Indicate whether the statement is true or false
Which of the following is an important issue in the Keynesian-Monetarist debate?
a. The relative importance of monetary and fiscal policy. b. The nature of the transmission mechanism through which a change in the money supply affects the economy. c. The shape of the investment-demand curve. d. All of these.
If the government cuts taxes, total spending will fall and AD will shift to the left, ceteris paribus
a. True b. False Indicate whether the statement is true or false