Which of the following shows a negative relationship between the output and unemployment gaps?
A) the AS curve
B) the Phillips curve
C) Okun's law
D) the classical dichotomy
E) none of the above
C
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Political creative destruction:
A) is likely to hamper the ruling government in an economy with inclusive institutions. B) leads to losses of all economic agents. C) leads to the benefit of all economic agents. D) is likely to adversely affect the ruling government in an economy with extractive institutions.
Exchange rates are determined in
A) the money market. B) the foreign exchange market. C) the stock market. D) the capital market.
The average person spends _________ of waking hours in some form of communication
a. 10 b. 20 c. 70 d. 90
A natural monopoly maximizes profits at the point at which price equals minimum average total cost
a. True b. False Indicate whether the statement is true or false