Argentina's experience since 1990 suggests that adopting a currency board imposes strict discipline on the country's fiscal policies.
Answer the following statement true (T) or false (F)
False
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Government invention is required to solve externality problems if ________
A) transaction costs associated with private negotiations are low B) the number of people affected by the externality is small C) the number of people affected by the externality is large D) property rights are clearly defined
The short-run cost function is:
a. where all inputs to the production process are variable b. relevant to decisions in which one or more inputs to the production process are fixed c. not relevant to optimal pricing and production output decisions d. crucial in making optimal investment decisions in new production facilities e. none of the above
The long-run aggregate supply curve at potential national income is analogous to:
a. the short-run aggregate demand curve at potential national income. b. the long-run Phillips curve at the natural rate of unemployment. c. the long-run aggregate demand curve at each price level. d. the short-run Phillips curve at the natural rate of unemployment. e. the horizontal portion of the Phillips curve.
Which of the following is not a provision of the Taft-Hartley Act?
a. outlaws the closed shop b. prohibits union unfair labor practices c. requires unions to bargain in good faith d. outlaws striking in support of another union's strike e. creates the National Labor Relations Board