Refer to the information provided in Figure 23.10 below to answer the question(s) that follow.
Figure 23.10Refer to Figure 23.10. Unplanned inventories decrease and output increases when aggregate output is
A. < $1,000 million.
B. $1,000 million.
C. $1,160 million.
D. $1,200 million.
Answer: A
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In a perfectly competitive market industry, firm's prices are equal to
a. Average revenue b. Marginal revenue c. Both a and b d. None of the above
Which of the following best describes a situation of moral hazard?
a. Sicker people are more likely to buy health insurance. b. Prospective used-car buyers have less information about a particular car than its seller does. c. Drivers with collision insurance drive more recklessly. d. Drivers with collision insurance wear seatbelts less often.
Corrective taxes are more efficient than regulations for keeping the environment clean
a. True b. False Indicate whether the statement is true or false
The ________ is the European Union's ultimate decision-making body and is composed of the different ministers of the member countries.
A) European Commission B) Council of the European Union C) European Parliament D) European Court of Justice