Economic discrimination occurs when equivalent factors of production receive different payments for equal contributions to output.
Answer the following statement true (T) or false (F)
True
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Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if the Federal Reserve does not use monetary policy. If the Fed uses monetary policy successfully to keep real GDP at its potential level in 2017, which of the following will be higher than if the Fed had taken no action?
A) Real GDP and then inflation rate B) real GDP and the unemployment rate C) real GDP and potential GDP D) potential GDP and the inflation rate
Growth accounting is seen a useful way to estimate this inputs contribution to growth:
A. labor. B. physical capital. C. land. D. technology.
In the above figure, if this natural monopolist were regulated and allowed to earn a "fair" rate of return, it would produce
A. at Q3 output rate. B. at Q2 output rate. C. past the Q3 output rate. D. at Q1 output rate.
Which of the following was a result of the many programs introduced as part of the New Deal?
a. a business environment of uncertainty that reduced output and investment b. a speeding up of the economic recovery process once these programs were enacted c. an increase in trade, investment, and output within the business sector d. a steady decline in the unemployment rate