According to the definitions of private and public saving, if Y, C, and G remained the same, an increase in taxes would
a. raise both private and public saving.
b. raise private saving and lower public saving.
c. lower private saving and raise public saving.
d. lower private and public saving.
c
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Along a short-run Phillips curve, the
A) long-run cost of lower inflation is higher unemployment. B) short-run cost of lower unemployment is higher inflation. C) short-run cost of lower inflation is higher interest rates. D) short-run cost of higher inflation is a higher real interest rate. E) short-run benefit of lower unemployment is lower inflation.
If a firm's inventory decreases, the gross domestic product (GDP) also decreases
a. True b. False Indicate whether the statement is true or false
To protect economic profits
A) a firm should try to acquire a barrier to entry. B) a firm should limit substitutes. C) a firm should have a patent if possible. D) all of these choices.
Dan Unowsky manages a production group in a PC repair shop. He has noticed that the speed of repair is based on each worker doing one task. However, if an employee is out sick, then the entire repair process slows down. This is an example of
A. coordination costs. B. managerial ineptitude. C. the absolute need for every employee to be trained in all aspects of PC repair. D. the trade-off between low cross-training costs and reduced flexibility of the employees.