Periods during which real GDP rises are called recessions
a. True
b. False
Indicate whether the statement is true or false
False
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Francis Crawford recently received a 20 percent wage increase and desires to work less. We can conclude that at his current wage his supply of labor curve
A) has a negative slope. B) is vertical. C) has a positive slope. D) is U-shaped.
Why does the payments system continue to change over time?
What will be an ideal response?
Which of the following is true of a corrective tax? a. It is also referred to as Pigouvian tax
b. It increases the deadweight loss caused by negative externalities. c. It is inflexible compared with command-and-control regulation. d. It needs to be updated with advances in technology.
Refer to the graph shown. Destruction of some of the resources necessary to produce both guns and butter would result in what movement?
A. From X to Y to X to Z in diagram b. B. From C to D to A to B in diagram a. C. From A to B to C to D in diagram a. D. From X to Z to X to Y in diagram b.