Without government intervention, society is likely to get too much production of: i. private goods that generate external costs ii. private goods that generate external benefits iii. public goods
a. (i) only
b. (ii) only
c. (iii) only
d. both (ii) and (iii)
a
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If the Fed conducts an open market sale of bonds, which of the following will happen?
a. The interest rate will decrease, the aggregate expenditure line will shift upward and the aggregate demand curve will shift rightward b. The interest rate will decrease, the aggregate expenditure line will shift downward and the aggregate demand curve will shift rightward c. The interest rate will increase, the aggregate expenditure line will shift downward and the aggregate demand curve will shift leftward d. The interest rate will decrease, the aggregate expenditure line will shift upward and the aggregate demand curve will shift leftward e. The interest rate will increase, the aggregate expenditure line will shift downward and the aggregate demand curve will shift rightward.
The Phillips curve shows the trade-off between rates of inflation and rates of unemployment
Indicate whether the statement is true or false
Why do economists pay particular attention to inverted yield curves?
What will be an ideal response?
The U.S. work week has declined from 60 hours in 1890 to fewer than 40 hours today. The impact of the decline in working hours
A) increases U.S. GDP and increases the well-being of a typical working person in the U.S. B) increases U.S. GDP and decreases the well-being of a typical working person in the U.S. C) decreases U.S. GDP and increases the well-being of a typical working person in the U.S. D) decreases U.S. GDP and decreases the well-being of a typical working person in the U.S.