What is another term for total surplus?
a. efficiency
b. consumer surplus
c. social surplus
d. deadweight loss
c. social surplus
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If Q = K2L2 the MPK is
a. constant b. diminishing c. increasing
The fact that U.S. national security depends upon what other nations spend on their national security means that
a. the U.S. may end up with less national security even if it devotes more resources to national security b. the U.S. should devote fewer resources to national security c. the U.S. should devote even more resources to national security than it considers desirable d. the U.S. can never be secure e. peace is an impossible dream
If there is a surplus in the U.S. loanable funds market, then
a. NCO > I. b. NCO < I. c. NCO + I > S. d. NCO + I < S.
According to the Phillips curve, policymakers can reduce inflation by
a. contracting aggregate demand. This contraction results in a temporarily higher unemployment rate. b. contracting aggregate demand. This contraction results in a temporarily lower unemployment rate. c. expanding aggregate demand. This expansion results in a temporarily lower unemployment rate. d. expanding aggregate demand. This expansion results in a temporarily higher unemployment rate.