Deficit spending will not cause much inflation if the economy is operating near full employment
a. True
b. False
Indicate whether the statement is true or false
False
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In the long run, a perfectly competitive firm maximizes profit so P = MC = AC.
Answer the following statement true (T) or false (F)
Gordon notes that the average growth rate of labor productivity between 1996 and 2004 was ________ percent, and the average reached ________ percent in 2003-04
A) 3; 3.5 B) 2; 205 C) 1.7; 3.2 D) 2; 1.5
Assuming purchasing-power parity holds and that over a period of five years the dollar had appreciated relative to the currency of Country X, what would explain the appreciation of the dollar?
The concept of opportunity cost describes:
(a) The lost benefits that result from a decision taken by a consumer; (b) The lost benefits of the next best alternative to the decision taken; (c) The cost in interest to acquire the funds needed to make a decision; (d) None of the above.