Suppose there currently is an inflationary ga
A) Reduce government spending. B) Increase government spending.
C) Reduce the nation's aggregate supply. D) nothing
A
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The profit-maximizing price of the monopolist compared to the perfectly competitive industry in the above figure are, respectively
A) P1 and P3. B) P1 and P5. C) P1 and P2. D) P2 and P5.
Which of the following about potential GDP is true?
a. During a recession, actual GDP will exceed potential GDP. b. Actual GDP cannot exceed potential GDP, even for short periods. c. Actual output may be either above or below potential output depending on how fully resources are utilized. d. The economy's potential output is the maximum output that could be achieved temporarily during a time of economic boom.
A price ceiling set below the equilibrium price causes quantity demanded to exceed quantity supplied
a. True b. False Indicate whether the statement is true or false
The life cycle theory of retirement breaks up an individual's working life into these three periods:
A. youth, middle age, and old age. B. education, work, and enjoyment. C. training, working, and retiring. D. not working, working, and not working.