Economists define "efficiency" as the absence of waste
a. True
b. False
Indicate whether the statement is true or false
True
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The bulk of the decline in the natural rate of unemployment from 1980 to 2000 is because of
A) a decline in the inflation rate. B) a decline in the share of young workers in the labor force. C) increased competition from foreign workers. D) the depreciation of the dollar relative to foreign currencies.
A gold sale by the U.S. Treasury
A) reduces bank reserves. B) increases bank reserves. C) increases Federal Reserve assets. D) leaves bank reserves unaffected.
Which of the following does a price level include?
a. the prices of a constant basket of goods and services bought by the typical consumer b. the price of every good and service bought in a given period by the typical consumer c. prices of goods only bought by the typical consumer d. prices of services only bought by the typical consumer
Are rent ceilings fair?
What will be an ideal response?