In the short-run equilibrium in the AD/AS Model, the aggregate output may be less than, equal to, or greater than potential output
Indicate whether the statement is true or false.
Answer: True.
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In the above figure, what is the TOTAL cost of producing 5 units of output?
A. $60 B. $100 C. $2,000 D. $225 E. $10
What do economists mean by an efficient tax?
What will be an ideal response?
International trade between two nations increases the standard of living of both nations due to
A) specialization and gains from absolute advantage. B) specialization and gains from comparative advantage. C) high tariffs. D) political intervention.
Following the bursting of the housing bubble in 2005, KB Homes sold ________ new homes and its stock price ________ dramatically. The result was total losses of $2.4 billion between 2007 and 2010
A) fewer; rose B) fewer; fell C) more; rose D) more; fell