The expansionary monetary and fiscal policies of the 1960s resulted in
A) low inflation rates and low rates of unemployment.
B) high inflation rates and high rates of unemployment.
C) high inflation rates and low rates of unemployment.
D) low inflation rates and high rates of unemployment.
C
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Refer to Scenario 14.1. Marco and Lisette decide to help each other out and agree to split any medical bills from their doctor. With this new arrangement, Marco's dominant strategy will give him a net benefit of
A) $45. B) $75. C) $120. D) $150.
A firm's demand for labor depends on the
A) nominal wage rate because it pays workers in dollars. B) real wage rate, which equals the nominal wage divided by the price level. C) real wage rate, which equals the nominal wage divided by the hours worked. D) nominal wage rate, which equals the real wage divided by the price level. E) supply of labor.
In Problem 5, in the long run, what is the market price and the quantity of paper produced? What is the number of firms in the market?
What will be an ideal response?
If production involves constant opportunity cost, the production possibilities curve
a. is "bowed inward." b. is a straight line. c. is "bowed outward." d. is a wavy line. e. has an unpredictable shape.