By 2013, how many European countries were members of the European Union?
A) 12
B) 15
C) 27
D) 57
Ans: C) 27
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In a perfectly competitive industry, in the long-run equilibrium
A) the typical firm is producing at the output where its long-run average total cost is not minimized. B) the typical firm is earning an accounting profit greater than its implicit costs. C) the typical firm is maximizing its revenue. D) the typical firm earns zero profit.
The impossible trinity includes ________
A) capital controls, a fixed exchange rate and an independent monetary policy B) free capital mobility, a flexible exchange rate and an independent monetary policy C) free capital mobility, a fixed exchange rate and an independent monetary policy D) free capital mobility, a flexible exchange rate and constraints on monetary policy
Refer to the graph shown. In the graph, if the price level is P1 and the aggregate demand curve is AD0 then the economy is:
A. in an inflationary gap. B. in a recessionary gap. C. fully employed. D. in a long-run equilibrium.
The government could increase Social Security tax revenues by raising the payroll tax cap beyond its current $110,000
Indicate whether the statement is true or false