Government stabilization policy would be unnecessary if the economy automatically gravitated toward
a. full inflation.
b. full employment.
c. full recession.
d. an inflationary gap.
b
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"In the short run, even when output is zero, the firm still has some variable costs it must pay." Is the statement correct or incorrect? Briefly explain your answer
What will be an ideal response?
The minimum value of the Herfindahl-Hirschman Index (HHI) is ________ and the maximum value is ________.
A) 0; 10,000 B) 100; 1,000 C) 100; 10,000 D) 1; 1,000
A unit of account is
A) a bank account. B) a savings account. C) a common measurement in which values are expressed. D) the same as a medium of exchange. E) none of the above
Which of the following describes the effect on the domestic market of tariffs imposed on imported wool blankets?
a. Fewer wool blankets will be sold overall. b. Prices for domestic wool blankets will fall. c. Sales will fall for domestic wool producers. d. Imported wool blanket sales will increase.