Inflation targeting requires monetary policymakers to rely heavily on the Phillips curve.
Answer the following statement true (T) or false (F)
True
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_________ is the study of the characteristics of human populations
a. Demography b. Geography c. Paleontology d. Gerontology
The reason individual homeowners usually do not hire a private contractor to fill the potholes on their street is because
a. there are positive externalities associated with the potholes b. the value to the neighborhood exceeds the cost of repair c. it costs them more than the benefits they derive d. they do not trust the government e. there are negative externalities associated with the repair
In the Cournot model of oligopoly, firms produce
a. the competitive quantity. b. the monopoly quantity. c. more than the monopoly quantity, but less than the competitive quantity. d. less than the monopoly quantity.
When a government imposes a price floor on a good that is above the market equilibrium price
A) a surplus will develop. B) a shortage will develop. C) producers will increase their sales price. D) consumers will increase their demand for the good.