The sentries were not at their posts, in no small part due to the
What will be an ideal response?
widely accepted faith in self-correcting nature of the markets, and the ability of financial institutions to effectively police themselves
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Having the single goal of price stability would make the Fed more subject to political pressure
Indicate whether the statement is true or false
What does it mean to internalize an externality?
What will be an ideal response?
Refer to the table below. If the profit for each unit of paper product is $3.00 and the profit for each unit of lumber is $13.50, what is the marginal benefit for each unit of paper products produced?
Big Oaks can produce either paper products or lumber with each tree that they harvest. Because Big Oaks can adjust the amount of paper products and lumber they produce from the harvested trees, paper products and lumber are produced in variable proportions. The above table summarizes Big Oaks production possibilities from each harvested tree.
A) $16.50
B) $3.00
C) $10.50
D) $13.50
The level of output determined by the intersection of the short-run aggregate supply curve and the aggregate demand curve
A. is always above full-employment output. B. always corresponds to full-employment output. C. is always below full-employment output. D. may be above, below, or equal to full-employment output.