Because economists understand what things change GDP, they can predict recessions with a fair amount of accuracy
a. True
b. False
Indicate whether the statement is true or false
False
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When aggregate demand is high, risking higher inflation, those in favor of using monetary and fiscal policy to stabilize the economy might recommend
a. increasing government spending. b. expanding the money supply. c. lowering taxes. d. the Fed sell government bonds.
Fixed costs exist only in the:
A. long run when some inputs are fixed. B. long run when all inputs are fixed. C. short run when all inputs are fixed. D. short run when some inputs are fixed.
Refer to Table 21.3 below:Table 21.3Units of LaborUnits of OutputMPP00 1 30266 3 304116 How many units of output can be produced when one unit of labor is employed in Table 21.3?
A. 36. B. 66. C. 30. D. 0.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30. B. exactly 60. C. fewer than 30. D. exactly 30.