Economists
a. agree that the costs of moderate inflation are low and that the cost of reducing inflation is small.
b. agree that the costs of moderate inflation are low, but disagree about the cost of reducing inflation.
c. disagree about the costs of moderate inflation, but agree that the cost of reducing inflation is small.
d. disagree about the costs of moderate inflation and disagree about the cost of reducing inflation.
d
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Compared to the poverty rate for non-Hispanic whites, the poverty rate for Hispanics is almost _______.
Fill in the blank(s) with the appropriate word(s).
Which of the following statements is correct?
A) The depth and the length of all business cycles are identical. B) The depth and the length of all business cycles are different. C) Business cycles are caused by seasonal unemployment changes. D) Business cycles are caused by unanticipated inflation.
Assume the graph shown shows Bobbi's budget constraint. If hairbands cost $5, then Bobbi's income to spend on these two items must be:
A. $8.
B. $6.
C. $40.
D. Cannot be determined without more information.
What is true only at the output level where price equals average total cost?
a. Marginal cost equals marginal revenue. b. Profit is maximized. c. Losses are minimized. d. Profit is zero. e. Cost is minimized.