A rationing device is a method used to resolve who gets what of available goods and resources
Indicate whether the statement is true or false
True
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If price is above the long-run competitive equilibrium level,
A. Firms will enter the market. B. Firms will incur losses. C. Firms will shut down. D. The market supply will shift to the left.
The link between incentives and economic growth suggests a certain trade-off between equity and efficiency
Indicate whether the statement is true or false
Samantha is lending Jack $1,000 for one year. The CPI is 1.60 at the time the loan is made, and they both expect it to be 1.68 in one year. If Samantha and Jack agree that Samantha should earn a 3 percent real return for the year, the nominal interest rate on this loan should be ________ percent.
A. 8 B. 11 C. 3 D. 5
In the aggregate expenditures model, the equilibrium GDP is:
A. Assumed to be equal to the potential GDP level B. Not necessarily equal to the full-employment GDP C. Always above the potential GDP level D. Always less than the full-employment GDP level