Stagflation caused by a negative supply shock makes macroeconomic policy very difficult; trying to reduce the size of a recession caused by the shock leads to a higher price level
a. True
b. False
Indicate whether the statement is true or false
True
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A method of valuing a life that estimates how much money it takes to get the typical person to bear an additional risk of death is called the
A) lost-income approach. B) compensating differential approach. C) daredevil approach. D) price-is-right approach.
The above figure shows a firm in monopolistic competition. At the profit maximizing level of output, excess capacity for the firm is equal to
A) 0 units per day. B) 4 units per day. C) 8 units per day. D) 16 units per day.
A decrease in the marginal income tax rate is a fiscal policy which will increase aggregate demand
Indicate whether the statement is true or false
Government funding for _______________ helps produce broadly available technology as well as scientific advances.
a. research and development b. individual copyrights c. political campaigns d. state and local governments