A healthy macroeconomy is characterized by:
a. a high inflation rate
b. a high unemployment rate.
c. a high standard of living.
d. maximum profits for firms.
c
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Which statement is true?
A. There was a great deal of stagflation in the 1970s. B. We had the worst recession since World War II in the late 2000s. C. We have had twelve recessions since January, 1945. D. All of the choices are true.
If a monopolist can perfectly price discriminate, then
A) price equals average cost for each unit sold. B) price equals marginal cost for each unit sold. C) price equals marginal cost for the last unit sold. D) the firm can ignore the marginal cost curve.
Real income is redistributed from ________ in the case of ________ inflation
A) creditors to debtors, anticipated B) creditors to debtors, unanticipated C) debtors to creditors, anticipated D) debtors to creditors, unanticipated
Which of the following scenarios is consistent with the Laffer curve?
a. The tax rate is 1 percent, and tax revenue is very low. b. The tax rate is 1 percent, and tax revenue is very high. c. The tax rate is 99 percent, and tax revenue is very high. d. The tax rate is moderate (between very high and very low), and tax revenue is very low.