The Federal Trade Commission was created by Congress in the same year that the Clayton Act was passed.
Answer the following statement true (T) or false (F)
True
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
Using the data in the above table, what is the value of national saving?
A) $1,202 billion B) $2,837 billion C) $1,053 billion D) -$85 billion
The unemployment rate is the
A. number of unemployed divided by the number of employed. B. labor force divided by the number of unemployed. C. number of unemployed divided by the labor force. D. number of employed divided by the number of unemployed.
Refer to the graphs below for a competitive market in the short run. Which of the following statements is true?
A. The firm will increase production
B. The firm is experiencing economic losses
C. The firm is breaking even
D. The firm is making economic profits