The United States is a mixed economy because there is a ______________________ sector and a _______________ sector.
Fill in the blank(s) with the appropriate word(s).
private; public
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A positive value for the cross elasticity of demand between two good implies that these two goods are substitutes.
Answer the following statement true (T) or false (F)
If stricter immigration laws are imposed and many foreign workers in the United States are forced to go back to their home countries,
A) we will move down along the long-run aggregate supply curve. B) we will move up along the long-run aggregate supply curve. C) the long-run aggregate supply curve will shift to the right. D) the long-run aggregate supply curve will shift to the left.
Which of the following would be most likely to improve the standard of living of a less-developed country?
What will be an ideal response?
The problem for a central bank setting a zero inflation policy would be:
A. firms would have to cut the nominal wage to reduce the real wage. B. economic growth would also have to be zero. C. it is impossible to have zero inflation. D. the risk of high employment.