An efficient economy is one that produces what consumers demand and does so at the least possible cost.
Answer the following statement true (T) or false (F)
True
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Suppose the economy had been operating along a given short-run Phillips curve for several years and then experienced a year of stagflation. The year of stagflation would: a. be represented as a move upward along the short-run Phillips curve. b. be represented as a move downward along the short-run Phillips curve. c. be represented as a point above the short-run Phillips curve
d. be represented as a point below the short-run Phillips curve. e. correspond to the origin.
The best measure of the income households actually have available to spend is
A) personal income. B) disposable personal income. C) national income. D) net national income.
Poverty is a condition where a person or family does not have the means to:
A. Satisfy all wants B. Save enough for the future C. Earn a stable income D. Meet basic needs
Private placements avoid
A) restrictive agreements. B) SEC registration costs. C) the need for collateral. D) the primary market.