Which price index measures the change in housing prices from repeated sales information?
A) S&P / Case-Shiller index
B) GDP deflator
C) Chain-weighted consumer price index
D) Dow-Jones index
A
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If the country wanted to produce the maximum total number of units of guns and butter combined, it would produce at point(s) ________________.
Answer the following statement(s) true (T) or false (F)
1. When a Clarke tax is used, the revenue collected may or may not cover the cost of providing the public good. 2. One problem with a Clarke tax is that although it may not cover the complete cost of a public good, it will never generate more than the cost of the good. 3. Social costs are equal to the costs imposed on others. 4. Social costs are felt by consumers but not by manufacturers. 5. All cars contribute positively to social gains.
Explain how the financial crisis turned into a major economic crisis
What will be an ideal response?
Briefly comment on the predictions of economists Milton Friedman and Edmund Phelps about the ability to exploit a trade-off between inflation and unemployment
What will be an ideal response?