Use the above figure. The long-run Phillips curve is best depicted by graph
A) A.
B) B.
C) C.
D) D.
C
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A good example of a policy to increase an economy's saving rate is ________
A) to reduce poverty B) to increase the economic growth rate C) to increase government spending D) to reduce interest rates E) to increase sales taxes
The firm's break-even point occurs at an output of
A. 40.
B. 45.
C. 50.
D. 55.
When banks are short on their reserves, they can either borrow from the ____ or from the ______.
Fill in the blank(s) with the appropriate word(s).
Refer to Figure 6.6, which shows a market for taxi medallions. If the number of taxi licenses is reduced from Q2 to Q1, the consumer surplus:
A. decreases by area FGI. B. decreases by (area BCFG + area FGI). C. decreases by area GHI. D. decreases by (area CDGH + area GHI).