Markets can efficiently handle irreversible decisions without involvement of government.
Answer the following statement true (T) or false (F)
False
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Under what conditions would a nation be able to currently produce more of both consumer and capital products?
Which of the following is likely to cause a decrease in both the wage rate and the level of employment in an industry?
A) A right shift in the supply curve for labor, without any change in the demand curve for labor B) A left shift in the supply curve for labor, without any change in the demand curve for labor C) A right shift in the demand curve for labor, without any change in the supply curve for labor D) A left shift in the demand curve for labor, without any change in the supply curve for labor
Using the Taylor rule, if the current inflation rate equals the target inflation rate and real GDP is greater than potential GDP, then the federal funds target rate ________ the sum of the current inflation rate plus the real equilibrium federal
funds rate. A) will be the same as B) will be less than C) will be greater than D) may be greater than or less than
Which of the following is NOT true about the national income identity given by the equation:
A) If CA is positive, national saving finances the purchase of our goods by foreign users. B) If CA is negative, our investment exceeds our national savings. C) A negative CA may imply that foreigners have confidence in the U.S. economy. D) If CA is negative and large, a country risks foreigners owning a large piece of its assets. E) None of the above.