Monopolistic competition does not display allocative efficiency in either the short run or the long run
a. True
b. False
Indicate whether the statement is true or false
True
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Assume the U.S. population is 300 million. If 200 million people are of working age, 125 million are employed, and 15 million are unemployed, what is the size of the labor force?
A) 200 million B) 125 million C) 175 million D) 140 million E) 215 million
The one main difficulty with a nominal GDP target rule for monetary policy is that it
A) is a difficult target to hit. B) provides no nominal anchor. C) requires a painful extinguishing response to an adverse supply shock. D) performs badly when there is unstable velocity.
The Army Corps of Engineers has been accused of acting on the basis of a so-called “edifice complex.”
Answer the following statement true (T) or false (F)
Figure 4-22
Refer to . The equilibrium price in the market before the tax is imposed is
a.
$1.00.
b.
$3.50.
c.
$5.00.
d.
$6.00.