When a central bank aggressively tries to contain inflation via contractionary monetary policy, which condition is most likely to occur?
A. Inflation
B. Disinflation
C. Deflation
D. Underinflation
Answer: B
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In measuring the unemployment rate, part-time workers are ________, and discouraged workers are ________
A) included as employed; included as unemployed B) excluded; included as unemployed C) included as employed; excluded D) excluded; excluded E) included as unemployed if they are involuntary part-time workers; excluded
The average product of labor increases as output increases if _______
A. marginal product exceeds average product B. average product exceeds marginal product C. total product increases D. marginal product increases
Suppose that you open your own business and earn an accounting profit of $30,000 per year. When you started your business, you left a job that paid you a $25,000 salary annually
Also, suppose that you invested $70,000 of your own funds to start up your business. If the normal rate of return on capital is 5 percent, your economic profit is A) $5,000. B) -$1,500. C) $1,500. D) -$5,000.
Should all pollution be banned? Why might some level of pollution be economically efficient?
Please provide the best answer for the statement.