When a permanent negative supply shock hits the economy, a permanently ________
A) lower equilibrium level of output ensues if the central bank raises interest rates
B) lower equilibrium level of output ensues if the central bank does not respond
C) higher equilibrium level of inflation ensues if the central bank does not respond
D) all of the above
E) none of the above
D
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An economy with both a private and public sector is called:
A) a mixed economy. B) a private economy. C) a command economy. D) none of the above.
Marginal utility measures the increase in total utility that a person derives from consuming one more unit of a good
Indicate whether the statement is true or false
Which of the following jobs is least likely to be outsourced?
A. Transcription of physicians' records B. Technical assistance over the phone for your computer C. Flipping hamburgers D. Software design
The poverty rate for blacks is _____________ the poverty rate for non-Hispanic whites.
A. almost three times B. about 50% more than C. slightly higher than D. a little lower than