List the four criteria that are generally used to evaluate economic outcomes
What will be an ideal response?
(1.) Efficiency.
(2.) Equity.
(3.) Growth.
(4.) Stability.
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Increasing prices tend to decrease interest rates and increase investment spending
a. True b. False Indicate whether the statement is true or false
If a tax is levied on the sellers of flour, then
a. buyers will bear the entire burden of the tax. b. sellers will bear the entire burden of the tax. c. buyers and sellers will share the burden of the tax. d. the government will bear the entire burden of the tax.
If your firm's production function has constant returns to scale, then if you double all your inputs, your firm's output will
a. double and productivity will rise. b. double but productivity will not change. c. more than double and productivity will rise. d. more then double but productivity will not change.
Explain how a change in the expected price level would shift the short-run and long-run aggregate-supply curves