Economists generally assume that faster economic growth is negative for society
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
In the life-cycle hypothesis, a person who expects to work for R years earning Y dollars per year, and live for a total of L years, will consume ________ per year
A) RY - (L - R)Y B) LRY C) (L - R)Y D) (R/L)Y
Most entrepreneurs finance their purchases of real capital using their past saving
a. True b. False Indicate whether the statement is true or false
By looking at the graphs showing a negative supply shockâs impact on aggregate demand and aggregate supply and on the Phillips curve, we can see that high energy prices in the late 1970s ______.
a. increased price levels and RGDP, but decreased inflation rates and unemployment rates
b. increased price levels, RGDP, inflation rates, and unemployment rates
c. decreased price levels, RGDP, inflation rates, and unemployment rates
d. increased price levels, inflation rates, and unemployment rates, but decreased RGDP
The demand schedule or curve confronted by the individual, purely competitive firm is:
A. relatively elastic, that is, the elasticity coefficient is greater than unity. B. perfectly elastic. C. relatively inelastic, that is, the elasticity coefficient is less than unity. D. perfectly inelastic.