There is clear evidence of a race-to-the-bottom internationally, regarding working conditions and the environment
Indicate whether the statement is true or false
FALSE
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Whether or not production is accompanied by an externality, a social planner who aims to maximize social surplus will always produce (assuming he does produce) where marginal social cost is equal to marginal social benefit.
Answer the following statement true (T) or false (F)
From an initial long-run macroeconomic equilibrium, if the Federal Reserve anticipated that next year aggregate demand would grow significantly faster than long-run aggregate supply, then the Federal Reserve would most likely
A) increase interest rates. B) increase income tax rates. C) decrease income tax rates. D) decrease interest rates.
According to the equation of exchange, if nominal GDP equals $6 trillion and the money supply equals $1 trillion, the velocity of money: a. must be 6
b. must be 1/6. c. must be 6 trillion. d. must be 1/6 trillion. e. cannot be determined unless we know the price level.
Did the large U.S. budget deficits in the 1980s "crowd out" investment as some economists had predicted?
a. Yes, investment dropped as predicted. b. Yes, although investment did not fall nearly as much as some had feared. c. No, investment was not crowded out, but net exports dropped. d. No, no crowding out at all occurred.