Keynesian macroeconomists argue that the short-run Phillips curve ________ represent a usable trade-off for policymakers because ________.
A. does; prices are sticky
B. does not; prices are not sticky
C. does; prices are not sticky
D. does not; prices are sticky
Answer: A
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Complaints about predatory pricing usually originate with
A) competitors. B) consumers. C) economists. D) government regulators. E) suppliers.
The median voter theorem states that the outcome of a majority vote
A) tends to favor the preferences of high-income individuals and ignore the median voter. B) is determined by the average consumer and producer in an economy. C) is likely to represent the preferences of the voter who is in the political middle. D) is likely to represent the preferences of society's middle-income voter.
If a product can be produced by a natural monopoly, society will benefit in the form of lower prices if the monopolist is broken up into several smaller firms
a. True b. False Indicate whether the statement is true or false
Moe divides his time between studying Physics and studying Economics. His production possibilities curve for his final grade in each class is shown in the accompanying figure.
Moe needs to earn at least an 80 in both economics and physics to keep his scholarship. Given his current PPC, an 80 in both classes is ________.
A. unattainable B. inefficient C. efficient D. attainable