The growth rate of productivity is the most important determinant of material well-being in the short run.
Answer the following statement true (T) or false (F)
False
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Potential advantages of nominal GDP targeting include
A) it implies that the central bank will respond to slowdowns in the real economy even if inflation is not falling. B) real GDP growth that is below potential or inflation that is below the inflation objective will encourage more expansionary monetary policy. C) it focuses not only on controlling inflation but also explicitly on stabilizing real GDP. D) all of the above.
Having a large market share is one of the main ingredients to business success
Indicate whether the statement is true or false
An outcome is said to be efficient if an economy is conserving the largest possible quantity of its scarce resources while still meeting the basic needs of society
a. True b. False Indicate whether the statement is true or false
Consumer surplus is the amount a buyer is willing to pay for a good minus the amount the buyer actually has to pay for it
a. True b. False Indicate whether the statement is true or false