The degradation of the environment from litter is a
a. a negative externality.
b. free rider problem.
c. Tragedy of the Commons.
d. Both a and c are correct.
d
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An increase in the real interest rate ________ the quantity of loanable funds supplied and ________ the quantity of loanable funds demanded
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Which of the following statements is true?
A. The Phillips curve has always been stable. B. If the Phillips curve shifts outward to the right this illustrates a greater tradeoff between unemployment and inflation. C. Keynesian economics assumes a vertical Phillips curve. D. According to the natural rate hypothesis the Phillips curve is downward sloping.
If Congress passes legislation to increase government spending to counter the effects of a recession, then this would be an example of a(n):
A. Supply-side fiscal policy B. Expansionary fiscal policy C. Contractionary fiscal policy D. Nondiscretionary fiscal policy
In a short-run macroeconomic equilibrium, potential GDP exceeds real GDP. If aggregate demand does not change, then the
A) short-run aggregate supply curve will shift rightward as the money wage rate falls. B) short-run aggregate supply curve will shift leftward as the money wage rate rises. C) long-run aggregate supply curve will shift leftward as the money wage rate rises. D) long-run aggregate supply curve will shift leftward as the money wage rate falls.