A positive cost-benefit ration implies that the activity or program should be undertaken
a. True b. False
b
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Explain what an asset bubble is, when an asset bubble would form, and why the bubble will eventually burst
What will be an ideal response?
Given MU1/P1 > MU2/P2 and MU1 = MU2, how could you create a state of consumer equilibrium?
a. Make P1 equal to P2. b. Make MU1 greater than MU2. c. Make P1 less than P2. d. Make MU1 greater than P2.
An increase in long-run aggregate supply can be expected to _________ the price level and _________ the natural rate of unemployment.
Fill in the blank(s) with the appropriate word(s).