________ will cause a movement along the modern Phillips curve
A) An increase in oil prices
B) An increase in the price of imports
C) Wage agreements that include compensation for inflation
D) all of the above
E) none of the above
E
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What is the nature of the trilemma that is encountered when choosing monetary arrangements?
A) Only two of the three aspects of internal and external balance can be accommodated simultaneously. B) Only three of the four aspects of internal and external balance can be accommodated simultaneously. C) Only one of the three aspects of internal and external balance can be accommodated simultaneously. D) Only two of the four aspects of internal and external balance can be accommodated simultaneously. E) Only one of the four aspects of internal and external balance can be accommodated simultaneously.
The interest on a business loan is an implicit cost.
Answer the following statement true (T) or false (F)
A budget constraint
A) represents the bundles of consumption that make a consumer equally happy. B) refers to the limited amount of income available to consumers to spend on goods and services. C) reflects the desire by consumers to increase their income. D) shows the prices that a consumer chooses to pay for products he consumes.
Due to a firm generating external costs, the government decides to ________ the firm. When this happens, the firm will produce ________ units of output than before the tax was imposed in order to continue maximizing profits.
A. tax; fewer B. subsidize; fewer C. subsidize; more D. tax; more