Applied research is the search for knowledge without a clue about the end of the research
a. True
b. False
Indicate whether the statement is true or false
False
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Sticky Cakes is a bakery. A decrease in the wage rate that Sticky Cakes pays its workers
A) does not shift its MC curve or its ATC curve. B) shifts its MC curve downward but not its ATC curve. C) shifts both its MC curve and its ATC curve downward. D) does not shift its MC curve but shifts its ATC curve downward.
John Smith leaves his job in New York to go to California in hopes of finding a better one. If John Smith is unemployed while searching for a job in California, economists would consider him to be
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) naturally unemployed.
The U.S. interstate system was begun under ________
A) President Franklin Delano Roosevelt in 1933 as part of the New Deal B) President Herbert Hoover in 1923 C) President Dwight D. Eisenhower in 1956 D) President George W. Bush in 2002 after the 9/11 attacks