Most economists today recognize that a short-run macro failure is possible.
Answer the following statement true (T) or false (F)
True
In the short run, the macro equilibrium could be below the full-employment level of output.
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A bakery can produce either cakes or cookies. If the price of cookies rises, then
A) the supply curve of cake shifts leftward. B) the supply curve of cake shifts rightward. C) there is a movement downward along the supply curve of cakes. D) there is a movement upward along the supply curve of cakes.
Consider estimating the effect of the beer tax on the fatality rate, using time and state fixed effect for the Northeast Region of the United States (Maine, Vermont, New Hampshire, Massachusetts, Connecticut and Rhode Island) for the period 1991-2001
If Beer Tax was the only explanatory variable, how many coefficients would you need to estimate, excluding the constant? A) 18 B) 17 C) 7 D) 11
A major challenge faced by Western Union in wiring money between the United States and Mexico is that ________.
A) it can only transfer funds in one direction B) it is facing competition from some commercial banks C) Mexican citizens do not like to use its services because it does not have strong ties with Mexican banks D) Mexican citizens trust the banks but do not trust Western Union due to its heritage a
Total variable costs ________ with decreasing output.
A. always decrease B. initially decrease and then increase C. initially increase and then decrease D. always increase