Resource prices will fall and short-run aggregate supply will increase if
a. current output exceeds the economy's full-employment level.
b. current output is less than the economy's full-employment level.
c. the actual rate of unemployment is less than the natural rate of unemployment.
d. exports exceed imports.
B
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In a benefit-cost analysis, the determination of feasibility
a. can be made by finding out if PVB/PVC is greater than unity b. is not critical and therefore is an optional step c. can be accomplished by finding out if PVNB is greater than zero d. all of the above e. (a) and (c) only
If it is impossible to prevent someone from benefiting from a good regardless of whether or not the person paid for it, then the good is
A) nonrival. B) rival. C) nonexcludable. D) excludable.
Private goods are:
A. not rival in consumption, but excludable. B. rival in consumption and excludable. C. rival in consumption, but not excludable. D. not rival in consumption and not excludable.
What actions would a supply-side economist advocate to cure an inflationary situation?
What will be an ideal response?