Suppose the Phillips curve is represented by the following equation: ?t - ?t-1 = 20 - 2ut. Given this information, we know that the natural rate of unemployment in this economy is
A) 10%.
B) 20%.
C) 6.5%.
D) 5%.
E) none of the above
A
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If the Money Store earns a normal profit this year, its
a. economic profit is equal to its accounting profit b. economic profit is zero c. economic profit is equal to the average accounting profit in other industries d. accounting profit is zero e. accounting profit is less than its economic profit
A wildlife preserve provides what type of economic benefits?
a. Use values only b. Non-use values only c. Existence values only d. Direct and indirect use values only e. Both use and non-use values
Enforcement of antitrust policy is the responsibility of
A. the Trust Division of Congress and the World Trade Organization. B. the Federal Trade Commission and the Antitrust Division of the Department of Justice. C. the Food and Drug Administration and Congress. D. the World Trade Organization and the FDA.
Growth is advantageous to a nation because it
What will be an ideal response?