Milton Friedman and Edmund Phelps ______ the Phillips curve in the 1960s.
a. eliminated
b. promoted
c. invented
d. criticized
d. criticized
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The Paris Club refers to the irregular meetings of creditor governments with debtor nations
Indicate whether the statement is true or false
By the end of the 1960s, fiscal activism was falling out of favor due to its long ________ lag and, as predicted by the permanent-income hypothesis, the ________ of the 1968 tax surcharge
A) legislative, ineffectiveness B) legislative, overstimulation C) effectiveness, ineffectiveness D) effectiveness, overstimulation
Taxing pollution will encourage firms to reduce pollutants dumped in the atmosphere or in streams
a. True b. False Indicate whether the statement is true or false
A likely consequence over time of an average-cost pricing policy for a natural monopoly is:
A. an increase in the average cost curve. B. an increase in profits. C. no change in price. D. a decrease in the average cost curve.