The overuse of a common resource is also referred to as the free rider problem
a. True
b. False
Indicate whether the statement is true or false
False
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In the above figure, if the market produces the efficient amount of purses, then consumer surplus equals triangle
A) abc. B) bcd. C) adc. D) cgf.
Refer to Figure 28-7. Consider the Phillips curves depicted in the graph above. The Fed announces its intention to decrease inflation from 10 percent to 5 percent per year, and it succeeds
If the assumptions of the rational expectations school hold true, and the Fed's announcement is credible, the rate of unemployment will be ________ in the short run. A) less than 5.5 percent B) 5.5 percent C) between 5.5 and 7.5 percent D) 7.5 percent
If a country tries to stimulate the economy with fiscal policy, the effects will be exchange rate
A. depreciation, lower interest rates, and a small increase in aggregate demand. B. depreciation, higher interest rates, and a small decrease in aggregate demand. C. appreciation, lower interest rates, and a small increase in aggregate demand. D. appreciation, higher interest rates, and a small increase in aggregate demand.
In our modern economy, the adjustment process necessary to eliminate a recessionary gap is very rapid
a. True b. False Indicate whether the statement is true or false