Economists are still puzzled why growth rates in the United States fell from 1973 to 1995.
Answer the following statement true (T) or false (F)
True
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Refer to Figure 15-12. In the dynamic AD-AS model, the economy is at point A in year 1 and is expected to go to point B in year 2, and the Federal Reserve pursues policy. This will result in
A) potential real GDP levels lower than what would occur if no policy had been pursued. B) inflation rates higher than what would occur if no policy had been pursued. C) real GDP levels higher than what would occur if no policy had been pursued. D) unemployment rates higher than what would occur if no policy had been pursued.
Laissez faire is a policy that espouses central planning
a. True b. False Indicate whether the statement is true or false
Assume that Burger King employees work in an air-conditioned environment while McDonalds employees do not. Other things equal, you would expect wages to be ____ in Burger King because ____.
a. higher; Burger King is a more prestigious place to work b. higher; Burger King employees are more productive c. lower; McDonald's employees are more productive d. lower; Burger King has more favorable working conditions
A linear function can be distinguished by
A. The changing relationship between the two variables. B. The continuous change in its slope. C. A shift in the function. D. The same slope throughout the line.