Productivity can be computed as the number of hours worked divided by output
a. True
b. False
Indicate whether the statement is true or false
False
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The level of real GDP identified by the long-run aggregate supply curve is
A) the level of GDP at which each industry is experiencing growth in sales. B) the level of GDP at which each business firm is experiencing growth in sales. C) the level of GDP at which no one is below the poverty line. D) the full-employment level of real GDP.
In a two-sided market with network effects, the platform will most likely
A) set the same prices for the two sides of the market. B) set different prices for the two sides of the market. C) set a price of zero for both sides of the market. D) combine the two groups of the market before setting its price.
Moral hazard:
A. always happens when adverse selection is a problem. B. never happens when adverse selection is a problem. C. can happen when adverse selection is a problem. D. None of these statements is true.
In the long run, an increase in the money supply growth rate
a. increases inflation and shifts the short-run Phillips curve right. b. increases inflation and shifts the short-run Phillips curve left. c. decreases inflation and shifts the short-run Philips curve right. d. decreases inflation and shifts the short-run Phillips curve left.