Some contend that the outcome of any free market is ultimately inequitable because
A. some people become rich while others remain very poor.
B. public goods will be underprovided by the government.
C. periods of unemployment and inflation still occur.
D. firms are not forced to take external costs into account.
Answer: A
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The economy is in its short run equilibrium at the point where the
A) price level is stable. B) SAS curve intersects the LAS curve. C) AD curve intersects the LAS curve. D) AD curve intersects the SAS curve.
Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. This would
A) increase the measured labor force participation rate. B) increase the measured unemployment rate. C) decrease the number of persons in the working-age population. D) decrease the number of persons in the labor force.
An increase in the government budget deficit will not lead to a current account deficit if domestic investment declines
Indicate whether the statement is true or false
The problem that economists consider is how an individual
a. actor's preferences are formed. b. actor decides to allocate scarce resources among competing ends. c. firm decides on means for influencing its buyers preferences. d. firm grows.