Which statement is true?
A. Productive efficiency has never been achieved.
B. The U.S. economy achieved productive efficiency from mid-1997 through mid-2001.
C. The U.S. economy achieved productive efficiency from 1980 to 1997.
D. The U.S. economy generally attains productive efficiency.
B. The U.S. economy achieved productive efficiency from mid-1997 through mid-2001.
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Silver is an example of a
A) commodity money. B) fiat money. C) barter money. D) representative money.
The Federal Reserve operates under a rule that requires money supply growth to increase by one percentage point for every percentage point that unemployment rises above its natural rate
a. True b. False Indicate whether the statement is true or false
As coffee becomes more expensive, Joe starts drinking tea instead of coffee. This is called:
A. a decrease in reservation price. B. the substitution effect of a price change. C. the income effect of a price change. D. a decrease in demand.
A cap-and-trade policy
A. has a set number of permits. B. allows polluters to trade permits. C. caps the total level of pollution allowed. D. all of these answer options are correct.