Total utility can be positive even when marginal utility is negative.
Answer the following statement true (T) or false (F)
True
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Stagflation is defined as:
a. the simultaneous occurrence of high inflation and high unemployment. b. high inflation accompanied by falling interest rates. c. declining GDP accompanied by a stable price level. d. a persistent decline in the price level that is unresponsive to monetary and fiscal policies.
Karl Marx was a(n):
a. 19th century German philosopher. b. 18th century Russian economist. c. 14th century Polish banker. d. 19th century Russian journalist.
Monetary policy uses timely government actions to impact interest rates and the supply of money
Indicate whether the statement is true or false
Figure 9-2
When an economy is experiencing the aggregate demand and supply conditions depicted in ,
a.
the actual rate of unemployment will equal the natural rate of unemployment.
b.
buyers and sellers will have correctly anticipated the level of prices P1.
c.
the output y1 will tend to persist into the future unless market conditions change.
d.
all of the above are correct.