The supply of lettuce in the short run will be ________ than the supply in the long run and ________ than the supply today
A) more elastic; less elastic
B) more elastic; more elastic
C) less elastic; more elastic
D) less elastic; less elastic
C
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Suppose the inflation rate target is "0" and the long run federal funds target is also "0." If the inflation rate is 4% and the output gap is -2%, the federal funds rate set by the Taylor rule is ________
A) 8% B) 2% C) 5% D) 6%
Many economists believe that tax cuts increase incentives to work and invest but current U.S. tax levels do not appear to be on the downward side of the Laffer curve
a. True b. False Indicate whether the statement is true or false
The primary claim of defenders of advertising is that it
a. conveys information about firm profitability. b. is psychological rather than informational. c. enhances the information available to consumers. d. reduces the elasticity of demand for a firm's product.
Spending on imports should get ________ GDP, and spending on exports should be ________.
A. subtracted from; included B. included in; subtracted C. included in; included as well D. subtracted from; subtracted as well