Only long-run changes in output can be brought about by unexpected change in policy
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
The central question in economics is how to:
a. deal with the problem of scarcity. b. change government economic policy. c. change people's wants to match their needs. d. manage money and become wealthy.
The difference between the value of what a firm sells and its cost of producing it is referred to as
a. gross private investment b. value added c. net exports d. value of product e. expenditure approach
Why is it possible that the economy will not self-correct out of a recessionary gap?
The outcome of the Stackelberg model is
A) a Nash equilibrium. B) the same as the Cournot outcome. C) that the follower earns zero profit. D) that the follower cannot be on its best-response curve.