Which of the following explains why managers of government agencies have little incentive to achieve operational efficiency?
What will be an ideal response?
Public-sector managers need not fear bankruptcy when operational efficiency is not achieved, seldom receive personal benefits if they find ways to improve the efficiency of their operations, and typically do not face competition.
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When people believe that an economic fluctuation is both permanent and caused by supply-side events, the result is ______.
a. a positive relationship between the unemployment and inflation rates b. a negative relationship between the unemployment and inflation rates c. high unemployment rates and low inflation rates d. low unemployment rates and high inflation rates
Refer to the above figure. Unexpected expansionary monetary policy has caused the aggregate demand curve to shift to AD2. In the short run
A) the unemployment rate can increase or decrease depending upon how much the LRAS will shift. B) the unemployment rate will be smaller than the rate before the expansionary monetary policy. C) the unemployment rate will be larger than the rate before the expansionary monetary policy. D) the unemployment rate will be the same rate as before the expansionary monetary policy.
Identify markets in which there is an exchange.
What will be an ideal response?
Refer to Table 19-17. What is nominal GDP in 2016?
A) $3,320 B) $3,690 C) $6,360 D) $7,035