Policy makers find that creating inflation is much more difficult than creating disinflation because expectations begin to change as inflation takes hold
a. True
b. False
Indicate whether the statement is true or false
False
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If the donut industry is perfectly competitive and is in long-run equilibrium, then the price of a donut
A) is greater than marginal cost. B) is greater than short-run average cost. C) is greater than long-run average cost. D) equals long-run average cost.
Which of the following are components of the opportunity cost of being a full-time student? The cost of:
What will be an ideal response?
In the Full Employment and Balanced Growth Act of 1978, Congress set a target rate of unemployment. The nation achieves this target rate
a. in most years b. at least once a year c. only rarely d. in election years e. at least once every five years
In the long run, which of the following would shift the long-run Phillips curve to the right?
a. an increase in the minimum wage b. an increase in government spending c. an increase in the money supply d. a decrease in the money supply