When we add private benefits and external benefits together, the result is called:
A. public costs.
B. network benefits.
C. production benefits.
D. social benefits.
Answer: D
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Explain what is meant by excess demand or s shortage
What will be an ideal response?
If the demand for a product decreases and the supply of the same product increases, the equilibrium quantity will increase
Indicate whether the statement is true or false
Neoclassical economists believe that the government fosters economic growth by providing a stable economic environment with a low rate of ____________ and tax rates that are low and unchanging.
a. importing b. growth c. unemployment d. inflation