In its original form, the Phillips curve depicted a situation in which an economy could reduce its unemployment rate by holding the inflation rate steady
a. True
b. False
Indicate whether the statement is true or false
False
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The Japanese health care system most closely resembles the health care system of _______, from which it was copied
a. theUnited States. b. France. c. Great Britain. d. Germany. e. Canada.
For much of its history, General Motors was characterized by having versions of the same car with different nameplates, e.g., Chevrolet vs. Cadillac. This business model has seemed less successful in recent years. What might explain this?
A) Consumers have more information concerning costs and quality. B) Consumers have more information concerning costs but not quality. C) Sellers have more information concerning costs but consumers have more information about quality. D) Consumers have less information concerning costs and quality.
It is useful to assume that there is a single representative consumer because
A) this is realistic. B) this is a useful abstraction if we are interested in problems where distribution effects are not important. C) this is the only model we know how to work with. D) a model with one consumer is the same as one with many consumers.
________ utility is the additional satisfaction gained by consuming ________ of a good.
A. Total; no more units B. Total; one more unit C. Marginal; one more unit D. Marginal; all units