The relationship between economic inputs and outputs is
a. productivity
b. capital
c. production function
d. factors of production
e. none of the above
C
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The years from 1945 to 1973 are notable for ________
A) a Great Moderation B) generally low inflation C) brief, but severe, recessions D) all of the above E) none of the above
Old Navy has a discount store in a rundown neighborhood and charges about half what they charge for the same merchandise in a more fashionable neighborhood. The best explanation for why they charge less in the rundown neighborhood is that
A. they pay less rent. B. their customers can't afford to pay any more. C. they don't have to bother advertising. D. they are maximizing their profits at the prices they are charging.
Member countries of the Eurosystem agree to:
A. pursue independent domestic monetary policies based on what is best for their own country, but not all member countries have adopted the euro as their currency. B. share a common monetary policy and use the euro as their currency. C. use the euro as their currency, but each country still pursues an independent monetary policy. D. share a common monetary policy and fiscal policy.
The tax revenue that is generated by a government tax is counted towards total welfare
Indicate whether the statement is true or false