The logic behind the tradeoff between inflation and unemployment is that high aggregate demand puts upward pressure on wages and prices while raising output.
Indicate whether the statement is true or false.
Ans: True.
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Incremental costs
a. are the total costs of abatement and regulation linked to environmental policy b. include only explicit costs c. refer to the change in costs associated with an environmental policy initiative d. include only implicit costs
Which of the following decisions are complicated by the value of money changing over time?
A. Buying a $100 concert ticket B. Buying a $100 stock C. Buying a $100 sweater D. Buying a $100 blender
If a perfectly competitive firm charges a price that is equal to its average total cost:
A. the firm is earning an economic profit equal to zero. B. the firm is earning an economic profit greater than zero. C. the firm is earning an economic profit less than zero. D. It is not possible to determine anything about the firm's profits.
The division of productive activities among persons and regions so that no one individual or area is totally self-sufficient is known as
A) advantage-taking. B) comparative value. C) specialization. D) outsourcing.