Quotas usually lead to larger deadweight losses than tariffs
Indicate whether the statement is true or false
TRUE
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A productivity growth slowdown can be shown as year-to-year fluctuations of real GDP around potential GDP
Indicate whether the statement is true or false
In today's Fed, its primary strategy is to
a. target the federal funds rate in the short-run, target inflation in the long-run. b. target inflation c. target the money supply. d. target the federal funds rate in the short-run, balance inflation and output goals in the long-run.
The current federal tax structure has ______ tax brackets.
A. 5 B. 6 C. 7 D. 8
The tragedy of the commons is the:
A. depletion of a common resource due to individually rational but collectively inefficient overconsumption. B. notion that common resources are generally underconsumed and therefore not produced by suppliers due to artificially low demand. C. disappearance of certain markets due to the lack of willingness to pay by individuals, leading to collective misfortune. D. undersupply of a public good due to people not wanting to pay for a publicly common good.