Most economists think that, in the short run, there is
A. a trade-off between inflation and unemployment, but not in the long run.
B. no trade-off between inflation and unemployment, nor is there one in the long run.
C. a trade-off between inflation and unemployment, and in the long run also.
D. no trade-off between inflation and unemployment, but there is one in the long run also.
Answer: A
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Which of the following is NOT included in the income approach to measuring GDP?
A) net interest B) net exports C) corporate profits D) compensation of employees
A quota is the same as a voluntary export restraint
Indicate whether the statement is true or false
The past two decades has seen a steady increase in the share of total taxes paid by high-income groups
a. True b. False
Based on this graph, which of the following would happen if P1 drops below the line where P is now?
a. The farmer would increase her profit.
b. The farmer would shut down.
c. The farmer would maintain equilibrium.
d. The farmer would hire more employees.