The analysis of Friedman and Phelps argues that an expected change in inflation has no impact on the unemployment rate
a. True
b. False
Indicate whether the statement is true or false
True
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Using rate-of-return analysis to determine who benefits and who does not benefit from the current structure of Social Security is
A. embraced by all. B. embraced not only by financial planners but also by most economists. C. rejected by those that view the program as social insurance rather than as an investment. D. rejected by everyone.
From the Keynesian perspective, an exogenous increase in investment is likely to lead to
A) a decrease in interest rates. B) an increase in output. C) an increase in the money supply. D) a decrease in government spending.
Price discrimination only occurs under monopoly
a. True b. False Indicate whether the statement is true or false
The long-run average total cost curve
a. is an envelope-shaped curve mapped out by the short-run average total cost curves for alternative plant sizes. b. intersects the minimum point of each short-run average total cost curve for alternative plant sizes. c. rises throughout its entire range when increasing returns are present. d. falls throughout its entire range due to the law of diminishing returns.