A competitive firm's short-run supply curve is perfectly elastic.
Answer the following statement true (T) or false (F)
False
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Full employment in the classical model is maintained by
A) flexible interest rates. B) flexible wage rates. C) flexible prices. D) flexible income.
People combining the effects of past policy changes on important economic variables with their own judgment about the future effects of current and future policy changes is consistent with
A) frictional unemployment. B) the rational expectations hypothesis. C) active policy making. D) passive policy making.
Where was the Climate Summit held in December 2009?
a. Brussels b. New York c. Seattle d. Copenhagen
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.