Money is:
a. valuable because it is backed by gold.
b. any items used in barter.
c. an illiquid asset.
d. none of these.
d
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When unemployment is below its natural rate, the inflation rate will eventually
A) move to its natural rate. B) decrease. C) become equal to the natural rate of unemployment. D) increase.
The conditions in which vertical relationships can enhance a firm's ability to price discriminate include
a. the manufacturer's product is of value to just one type of customer b. the costs of arbitraging the price differences across markets is small c. the manufacturer acquires the distributer in the higher priced market d. competition provide little ability for the manufacturer has to price above marginal cost
Among the characteristics of the command-and-control approach to pollution reduction is that it is
A. easily adjusted to changes in marginal costs of pollution reduction across firms. B. less costly than a carbon tax. C. typically inflexible and thus quite expensive. D. less costly than cap-and-trade systems.
For the following policy, indicate whether it will or will not increase the rate of economic growth in the United States. C. Congress provides more funds for low-interest loans to college students. It is likely that the rate of economic growth will ____________
Fill in the blank(s) with the appropriate word(s).