The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier.
B. self-correcting property.
C. short-run equilibrium property.
D. long-run equilibrium property.
Answer: B
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Healthy Crunch contractually requires distributors who purchase Healthy Crunch's snack bars to also purchase Healthy Crunch's breakfast cereal. The legality of the practice will be evaluated under Section ________ of the Clayton Act.
A) 7 B) 2 C) 8 D) 3
The difference between price and average total cost is
A) total costs. B) marginal costs. C) average profit. D) an irrelevant quantity.
Despite the fact that most votes have virtually no impact on the outcome of a vote, and knowing people incur opportunity costs to vote, we recognize that people vote for all of the following reasons except they:
A. feel pressure to fulfill their civic duty. B. altruistically decide to contribute to the democratic process by voting. C. get utility from participating in a civic event. D. are obligated legally to do so.
Theoretically, the price of a field hand on the New Orleans slave market would have
a. varied directly with the price of cotton. b. risen as interest rates fell. c. risen when the importation of slaves became illegal. d. All of the above are true.