Which of the following statements is false?
A) At equilibrium in a market, scarcity does not exist.
B) If there is a shortage of 100 units at a price of $2 per unit, the shortage will be greater than 100 units at a price of $1 per unit.
C) If there is a surplus of 30 units at a price of $3, the surplus will be less than 30 units (or even nonexistent) at a price of $2.
D) If there is a surplus, suppliers will not be able to sell all they had hoped to sell at a particular price.
A
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Suppose the measured unemployment rate is 3.9% and the natural rate of unemployment is 5.1%. In this situation, policymakers should
A) attempt to stimulate the economy. B) attempt to slow the economy. C) not intervene in the economy. D) The actions of policymakers will depend on how much of the natural rate is frictional unemployment and how much is structural unemployment.
A policy of raising the minimum wage is beneficial to all low-skilled workers
Indicate whether the statement is true or false
People cope with uncertainty about the future:
A. exactly the same way, regardless of the situation. B. in very similar ways, regardless of the situation. C. in many ways, such as buying insurance. D. by always avoiding it.