According to this Application, economist Daron Acemoglu categorizes which of the following as authoritarian institutions?
A) democracies, monarchies, and dictatorships
B) monarchies, dictatorships, and tightly controlled oligarchies
C) constitutionally limited monarchies and democracies
D) tightly controlled oligarchies, democracies, and constitutionally limited monarchies
B
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If the economy were producing at its potential output, then the unemployment rate would be less than the target rate of unemployment.
Answer the following statement true (T) or false (F)
Table 14.4In Table 14.4, Market 3 would be in equilibrium if buyers believed plums accounted for:
A. 11.11% of the market. B. 22.22% of the market. C. 33.33% of the market. D. 66.67% of the market.
The opportunity cost of more consumption of goods today is
A) lower consumption of goods in the future. B) fewer capital goods in the future. C) more capital goods today. D) more unemployment both today and in the future.
If C = 100 + 0.8Y and I = 50, then the equilibrium level of income is
A. 187.5. B. 375. C. 600. D. 750.