Since the mid-1980s tariff rates in most nations have risen
Indicate whether the statement is true or false
FALSE
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When the economy is at full employment, the
A) natural unemployment rate is equal to 0 percent. B) natural unemployment rate equals the unemployment rate. C) natural unemployment rate is equal to 10 percent. D) unemployment rate is equal to 0 percent. E) frictional unemployment rate is equal to 0 percent.
The principle of equal opportunity is an example of:
A. an outcome-oriented notion of equity. B. a process-oriented notion of equity. C. utilitarianism. D. Rawlsianism.
The figure above shows cost curves for a perfectly competitive firm. If market price is $0.70, a profit-maximizing firm will produce ________ units of output and earn profits of ________.
A. 500, -$50 B. zero, -$450 C. 500, -$450 D. zero, -$400
Who is best known for arguing about the fine tuning of monetary policy?
A) Friedman B) Keynes C) Modigliani D) Greenspan E) Bernanke