Activists believe that ________
A) frictions to the self-correcting mechanism of markets prevent prices and wages from being very flexible
B) it takes a very long time to reach the long run
C) Keynes was right with his statement "in the long-run, we are all dead"
D) all of the above
E) none of the above
D
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Who benefits the most from competitive markets?
A. Consumers B. Producers C. The government D. Investors
The relationship between the output gap and the cyclical rate of unemployment is known as
A) the Phillips curve. B) the LM curve. C) Murphy's law. D) Okun's law.
The market demand for wheat is Q = 100 - 2p + 1pb, where pb is the price of barley. If the price of wheat is $2, the price elasticity of demand
A) equals (-4/46). B) equals (-46). C) equals (-1). D) cannot be calculated without more information.
Which of the following is a characteristic that might affect the efficiency (marginal costs and marginal benefits) of a recycling market?
a. Geography b. Vehicle-miles traveled c. Population density d. The mix or composition, weight, and volume of the material stream supplied to the secondary market e. All of the above.