Based on the graphs for an increase in aggregate demand and the Phillips curve, we can see that when aggregate demand is weak, ______.
a. RGDP is high
b. unemployment is low
c. inflation is low
d. inflation is high
c. inflation is low
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The GDP figures fail to count labor services and other household production. Once this omission is taken into account
What will be an ideal response?
Fireworks on the night on July 4th are neither rival nor excludable.
Answer the following statement true (T) or false (F)
Government failure occurs when the government becomes the tool of the rent seeker and resource allocation becomes even less efficient.
Answer the following statement true (T) or false (F)
You cause an automobile liability insurance company to face a moral hazard problem when you take ________ driving precautions ________ you buy automobile liability insurance from the company.
A. fewer; before B. fewer; after C. more; after D. the same; before and after