By focusing on the short-run adjustments of aggregate demand, Keynesian economics risks _____________ the long-term causes of economic growth or the natural rate of unemployment that exists, even when the economy is producing at potential GDP.
a. overlooking
b. fueling
c. minimizing
d. increasing
a. overlooking
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Economists generally agree that increases in the minimum wage increase employment
Indicate whether the statement is true or false
"Every point on a demand curve represents a consumer equilibrium in the indifference curve model." Explain why the previous statement is correct or not
What will be an ideal response?
Local governments rely most heavily on
a. personal income taxes b. corporate income taxes c. estate taxes d. property taxes e. excise taxes
In a free market, a given unit of an input will be used by the firm that
a. earns the largest addition to total profit from the use of that unit of input. b. has the lowest marginal cost of producing another unit of output. c. sells its output for the highest price. d. earns the largest total profit.