The long-run aggregate supply curve (LRAS) corresponds to full-employment real GDP with zero frictional and structural unemployment
a. True
b. False
Indicate whether the statement is true or false
False
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The demand for current consumption, as plotted against the interest rate, shifts to the right due to all of the following except
A) a decrease in current taxes. B) a increase in future taxes. C) an increase in current income. D) an increase in future income.
The U.S. Postal Service has a monopoly over first-class mail delivery
a. because of economies of scale b. because of its control of essential resources c. because of its control over key patents d. because of government-imposed barriers to entry e. despite its very low fixed costs
Jan has an income of $30,000 and pays $4,500 in taxes. When Jan's income rises to $40,000 . her tax bill rises to $6,500 . What is Jan's marginal tax rate?
a. 5 percent. b. 15 percent. c. 16.25 percent. d. 20 percent.
The historical record of the Fed's success in controlling inflation has been
a. consistently strong b. inconsistent c. consistently disappointing d. shaped primarily by supply shocks e. incapable of measurement