To maximize its profit, the firm in the figure above will produce ________ jeans and set a price ________ per pair of jeans
A) 150; between $50 and $25
B) 125; $25
C) 125; $50
D) 125; $75
E) None of the above answers are correct.
D
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Open market operations refer to the purchase and sales of stocks listed on the New York Stock Exchange
a. True b. False Indicate whether the statement is true or false
Points inside the production possibilities frontier represent feasible levels of production
a. True b. False Indicate whether the statement is true or false
Goods produced that go into inventories are
A. not counted in GDP. B. only counted in GDP when they are ultimately sold. C. counted in GDP even though they are not sold. D. counted if they completely depreciate within the calendar year.