Indicate whether the statement is true or false.
The existence of unemployment can be illustrated on a production possibilities curve by a(n)
A. point below or inside the surface of the curve.
B. inward shift of the curve.
C. movement along the curve.
D. outward shift of the curve.
A. point below or inside the surface of the curve.
Economics
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Rent controls generally provide the tenants the most efficient housing choice in the long run and maximize economic welfare.?
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If the expected price level increases at the same time that the federal government cuts taxes, in the short run
A) aggregate output and the price level will both increase. B) aggregate output will increase, but the price level will fall. C) aggregate output and the price level will both fall. D) the price level will increase, but aggregate output may either increase or decrease.
Economics
Workers determine the supply of labor, and firms determine the demand for labor
a. True b. False Indicate whether the statement is true or false
Economics
Other things equal, the level of bilateral trade between two countries will increase as their GDP:
a. rises. b. falls. c. stays the same. d. becomes less equal.
Economics