In a closed economy, net exports are _________
Fill in the blank(s) with the appropriate word(s).
Ans: zero
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During the 2009 euro crisis, a number of countries had private banks that had become too "big to save." Explain
What will be an ideal response?
Suppose a government sets theprice for a natural monopoly at the competitive level such that P = MC. To keep the seller from taking a loss under this policy, the government could provide a lump-sum payment to the firm
How could we determine this payment? A) Multiply the competitive quantity by the competitive marginal cost B) Multiply the competitive quantity by the regulated price C) Multiply the competitive quantity by the difference between MC and AC D) Multiply the difference in the competitive and monopoly quantities by AC
In general, GDP per capita is not highly correlated with alternative measures of quality of life
a. True b. False Indicate whether the statement is true or false
Along the long-run Phillips curve, the value of _____ remains constant
a. unemployment b. inflation c. the interest rate d. investment