A price ceiling will increase the amount that is traded in the market while a price floor will reduce the amount that is traded in the market
Indicate whether the statement is true or false
F
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Just this week airlines put through a ___ each-way across-the-board fare hike
Fill in the blank(s) with the appropriate word(s).
If substantial internal scale economies exist, production of a commodity tends to be concentrated in a few large facilities in a few countries.
Answer the following statement true (T) or false (F)
The aggregate consumption function is C = 100 + 0.6Yd. If income is $1,000 and net taxes are $300, consumption equals
A. 800. B. 700. C. 580. D. 520.