If you accept the Phillips curve, then it is possible to attain zero unemployment and zero inflation at the same time
Indicate whether the statement is true or false
F
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Wal-Mart has a limited number of "Black Friday" (the day after Thanksgiving Day) special items on sale at prices well below their typical price. Wal-Mart opens at 10 PM on Thanksgiving. Wal-Mart is using a ________ allocation method for these it
A) first-come, first-served B) market price C) contest D) majority rule E) command
The profit-maximizing combination of resources in a perfectly competitive situation occurs at the point at which
A) MRP of labor = price of labor (wage rate). B) MRP of land = price of land (rental rate per unit). C) MRP of capital = price of capital (cost per unit of service). D) All of the above are correct.
You're traveling in Japan and are thinking about buying a new kimono. You've decided you'd be willing to pay $175 for a new kimono, but kimonos in Japan are all priced in yen. If the exchange rate is 89 yen per dollar, what is the highest price in yen
you'd be willing to pay for a kimono? (Assume no taxes or duties are associated with the purchase.) A) 1.97 yen B) 330.75 yen C) 15,575 yen D) 19,425 yen
The only source of economic growth is growth in the number of workers in the economy.
Answer the following statement true (T) or false (F)