A lack of cooperation by oligopolists trying to maintain monopoly profits
a. is desirable for society as a whole.
b. is not desirable for society as a whole.
c. may or may not be desirable for society as a whole.
d. is not a concern due to antitrust laws.
a
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Transfer payments are included in the calculation of personal income but excluded in the calculation of GDP
Indicate whether the statement is true or false
Neo-Keynesians believe that the government will never have to choose between policies to control unemployment and policies to control inflation
Indicate whether the statement is true or false
The wage is to the labor market as the
a. rental price of capital is to the capital market. b. purchase price of capital is to the capital market. c. supply of land is to the land market. d. demand for land is to the land market.
To close a recessionary gap, the Fed ________ interest rates which ________ aggregate spending and ________ short-run equilibrium output.
A. raises; decreases; decreases B. raises; decreases; increases C. reduces; increases; increases D. reduces; increases; decreases