The Congressional Budget Office estimated that the NAIRU was equal to about __________ in 2015.
A. 6.0%
B. 4.0%
C. 9.6%
D. 5.0%
Answer: D
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The quantity theory of money is a proposition about
A) the nominal interest rate and the quantity of money demanded. B) the Fed's methods used to change the quantity of money. C) nominal and real interest rates. D) the relationship between financial assets and currency demanded. E) the relationship between a change in the quantity of money and the price level.
A constant-cost, perfectly competitive market is in long-run equilibrium. At present, there are 1,000 firms each producing 400 units of output. The price of the good is $60
Now suppose there is a sudden increase in demand for the industry's product which causes the price of the good to rise to $64. In the new long-run equilibrium, how will the average total cost of producing the good compare to what it was before the price of the good rose? A) The average total cost will be the same as it was before the price increase. B) The average total cost will be lower than it was before the price increase because of economies of scale. C) The average total cost will be higher than it was before the price increase because of diseconomies of scale arising from the increased demand. D) The average total cost will be higher than it was before the price increase since the increase in demand will drive up input prices.
Annual Head Start costs per child served are ________ average child care costs.
A. about the same as B. much lower C. somewhat higher than D. declining when compared to
Price discrimination is ________ in the United States and ________ practiced.
A. legal; rarely B. illegal; widely C. illegal; rarely D. legal; often