In the long run,
a. the Phillips curve is upward sloping.
b. the Phillips curve is downward sloping.
c. monetary policy can influence the unemployment rate.
d. monetary policy cannot influence the unemployment rate.
e. the Phillips curve is horizontal.
D
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A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule:Production Possibilities ScheduleProductABCDEFSteel012345Wheat100907555300Which of the following output-combinations is unattainable?
A. 4 units of steel and 55 units of wheat B. 95 units of wheat and 0 units of steel C. 30 units of wheat and 3 units of steel D. 1 unit of steel and 80 units of wheat
Risk-based deposit insurance premiums have recently been __________ and this is expected to __________ the moral hazard problem of deposit insurance
A) abolished; alleviate B) abolished; worsen C) established; alleviate D) established; worsen
If a firm's output equals 10, product price equals $5.00, TFC = $8.00, and TVC = $60.00, then the firm's profit would equal
a. $.80 b. $1.80 c. $80.00 d. –$16.80 e. –$18.00
Why does a tax create a greater deadweight loss with an elastic supply or demand curve?
What will be an ideal response?