Economists mostly agree that the Great Depression was principally caused by factors that shifted short-run aggregate supply left
a. True
b. False
Indicate whether the statement is true or false
False
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Policy makers usually wait for ________ months of data to confirm a change
A) two B) three C) four D) six
Which of the following is not a potential problem in using corrective taxation to deal with a negative externality?
a. Measuring the cost of the externality. b. Estimating the supply curve of the externality creator. c. Determining who is responsible for the externality. d. Determining how the tax should be applied.
A key assumption in the classical model is
A) sticky wages. B) pure competition exists. C) sticky prices. D) the government plays a major role in economic problems.
Assuming a 5 percent rate of interest, the present value of a business that generates an annual income of $20,000 is worth
a. $1,000 b. $20,000 c. $400,000 d. $80,000 e. $100,000