A recessionary gap exists when aggregate demand is above the full employment level of output
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Price controls usually enhance efficiency in the allocation of resources.
Answer the following statement true (T) or false (F)
Economics
An increase in taxes has the following impact on the budget constraint
A) a parallel move down. B) a parallel move up. C) a tilting to the left. D) a tilting to the right.
Economics
On balance, does market power promote or retard technological innovation?
What will be an ideal response?
Economics
Which of the following would be a deadweight loss from a tariff?
A) The shift of consumer surplus to government B) The increase in producer surplus C) The decrease in consumer surplus D) The decrease in consumer surplus due to a drop in consumption
Economics