Keynesian economists generally agree that unemployment is more costly than inflation.
Answer the following statement true (T) or false (F)
True
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An increase in the real wage rate ________ the quantity of labor demanded and ________ the quantity of labor supplied
A) decreases; increases B) increases; increases C) decreases; decreases D) increases; decreases E) does not change; does not change
Pencils are produced in the market economy
A) only because people need pencils. B) only because pencil production is centrally planned, from the growing of the trees and mining of the graphite to the final stages of pencil assembly. C) even though the final assemblers of pencils have no idea how to produce the paint, graphite, wood, rubber, and metal ferrules. D) by government decree.
Taxes on emissions have come to be called
A) the "command and control" approach. B) "licenses to pollute." C) spillover costs. D) the fallacy of false alternatives.
Explain which of the following count as money. a) a check in Ann's checkbook b) currency in Ann's bank c) currency in Ann's purse d) Ann's checking deposit
What will be an ideal response?