When an inflationary gap exists, the job prospects of new college graduates are
a. very dim.
b. somewhat encouraging.
c. worse in comparison to a recessionary gap.
d. excellent.
d
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Making choices by selecting the best feasible option, given the available information is referred to as:
A) optimization. B) delegation. C) imposition. D) actualization.
Refer to the figure above. How many units of Good X will be supplied if the government sets a price ceiling of Pc on the good?
A) 0 units B) 10 units C) 25 units D) 35 units
Explain why market power leads to a deadweight loss. Is the total deadweight loss from market power in the United States large or small?
What will be an ideal response?
Which one of the following statements is false if we increase the discount rate used to allocate a resource across two time periods?
a. The resource will tend to be used up quicker b. The price of the resource will tend to rise faster c. Current consumption of the resource will increase d. The appropriate resource depletion tax will increase e. Future supplies of the resource will decrease