Inflation is often accompanied by
a. seigniorage
b. forced saving
c. financial repression
d. large government budget deficits
e. all of the above
E
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If a perfectly competitive firm is producing an output level for which MR equals $5, MC equals $6, and ATC equals $4, the firm
a. is earning a profit but should reduce output. b. is earning a profit and should increase output. c. is suffering a loss and should reduce output. d. is suffering a loss but should increase output.
In Sewei's lawnmowing business, in order to produce each mowed lawn, Sewei must hire exactly one unit of capital (a lawnmower) and exactly one unit of labor. Describe the elasticity of substitution between labor and capital
What will be an ideal response?
About one out of every _______ whites is poor.
Fill in the blank(s) with the appropriate word(s).
A $500 increase in investment will shift the aggregate expenditures curve up by:
A. exactly $500 and will increase the equilibrium level of real GDP by exactly $500. B. exactly $500 and will increase the equilibrium level of real GDP by less than $500. C. exactly $500 and will increase the equilibrium level of real GDP by more than $500. D. more than $500 and will increase the equilibrium level of real GDP by more than $500.