When economic rent exists,
A) the price is equal to the opportunity cost of the resources.
B) price is the same as the discount rate.
C) resources are allocated inefficiently.
D) resources are allocated efficiently.
D
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Between 2008 and 2009, U.S. real GDP decreased from $13.2 trillion to $12.9 trillion. As a result, the real demand for money ________ and the demand for money curve ________
A) decreased; shifted leftward B) did not change; did not shift C) increased; shifted leftward D) decreased; shifted rightward.
The amount of investment demand at each interest rate suddenly falls. If the Fed holds to an unchanged money supply target, the change in GDP is __________ if it had held to an unchanged interest rate target
A) greater than B) less than C) the same as
Structural unemployment includes: a. unemployment caused by workers who leave positions to seek better jobs
b. unemployment caused by automation that displaces workers from their jobs. c. unemployment caused by a decline in the economy's total production. d. unemployment caused by the geographical and occupational mobility of the labor force.
Stagflation is the simultaneous occurrence of inflation and high unemployment
a. True b. False Indicate whether the statement is true or false