There is only one explanation for why economists give conflicting advice on policy issues, and it is that they have different values about what policy should try to accomplish
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following would definitely not be used by any unregulated monopolist?
A. Economies of scale. B. Marginal cost pricing. C. Price discrimination. D. The profit-maximizing rule.
If demand for clean water is specified as P = 140 – 2Q, and the market price is $40, then consumer surplus at that price level is
a. $2500 b. $3000 c. $1600 d. $50
Discuss what is necessary to make rational decisions. Be sure to mention opportunity cost, marginal cost, and marginal benefit
What will be an ideal response?
The difference between the economy's potential output and its actual output relative to its potential output at a point in time is called the:
A. trade deficit. B. budget deficit. C. output gap. D. full-employment rate.