The hallmark of Clintonomics was first to reduce the budget deficit
a. True
b. False
Indicate whether the statement is true or false
True
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On the long-run Phillips curve, the unemployment rate
A) equals the natural unemployment rate, but the inflation rate can be any value. B) decreases when the inflation rate increases. C) equals the natural unemployment rate, and the inflation rate equals the expected inflation rate. D) can be any value, but the inflation rate equals the expected inflation rate. E) and inflation rate can take any value.
The price elasticity of demand for purses is measured in what units?
A) dollars B) purses C) dollars per purse D) The price elasticity of demand is a unitless measure.
In the above figure, which of the following is a possible explanation for the reduction in the equilibrium value of the European euro from P2 to P1?
A) an increase in demand for French automobiles B) the European central bank's decision to buy euros on the world market C) a decrease in the price of California wines, assuming that French wines and California wines are substitutes D) an increase in the price of California wines, assuming that French wines and California wine are substitutes
Which one of the following is based on the idea that the marginal utility of income diminishes as income increases?
a. Progressive taxation b. Capital controls c. Minimum wages d. Price controls e. Employee compensation regulations