Wars of attrition arise in which of the following contexts?
A) fiscal policy
B) deficit reduction
C) hyperinflation
D) all of above
E) A and B
D
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Suppose all firms in a competitive market are currently in both short-run and long-run equilibrium. What impact will a lump sum tax have on each firm in the short run? in the long run?
What will be an ideal response?
Describe what happens to the FE line if government purchases increase.
What will be an ideal response?
The theory that regulation helps producers to maximize profit is the
A) social interest theory. B) consumer surplus theory. C) antitrust theory. D) capture theory. E) oligopoly theory of regulatory bodies.
The graph that relates hours of labor input to output is called the
a. consumption function. b. conjunction function. c. capital function. d. production function.