Which of the following will not cause an increase in demand for good X?
What will be an ideal response?
a decrease in the price of good X
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Use the figure below to answer the following question.
What is the amount of total surplus (for society) after the government imposes the excise tax on the market?
A. $32 B. $96 C. $100 D. $64
Use the following table to answer the next question.YearUnemployment Rate (%)Inflation Rate (%)14.03.024.52.535.02.045.53.056.04.5Consider years 1, 2, and 3. Based on this data, the Phillips curve is ________.
A. upward sloping B. vertical C. of indeterminate slope D. downward sloping
The FOMC "Statement on Long-Run Goals and Monetary Policy Strategy"made it clear that the Federal Reserve would be pursuing ________, consistent with its dual mandate
A) a flexible form of inflation targeting B) a strict form of inflation targeting C) a zero inflation targeting D) an implicit inflation targeting
If a firm produces nothing, it still incurs its fixed costs
a. True b. False Indicate whether the statement is true or false