A change in the equilibrium in one market which affects other markets is known as _____________________
Fill in the blank(s) with the appropriate word(s).
Answer: spillover effect
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If the number of ITQs issued equals the efficient production level, what is the price of an ITQ?
What will be an ideal response?
The direct cost of debt depends on:
A. the amount of the deficit. B. fiscal policy. C. the implementation lag. D. the interest rate.
At the end of the populist cycle, workers are better off than they were before the populist cycle began in terms of real wages and job creation
Indicate whether the statement is true or false
The classical model makes little distinction between the long run and short run because
A. current changes influence the long run, so it is not possible to plan for the future. B. wages and prices adjust so fast that the economy is quickly moving towards the long run. C. the model has not been fully developed yet. D. the classical economists knew that we are always operating in the short run.