A fluctuating rate of inflation
a. will cause a downturn in the housing sector
b. redistributes income from creditors to debtors
c. redistributes income from the employed to the unemployed
d. was the problem that originally led to the creation of the Federal Reserve System
e. interferes with long-run planning
E
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Table 10-2 ? Firm A Firm B Firm C Firm D Total revenue (TR) $ 100 150 100 100 Total variable cost (TVC) 180 160 60 140 Short-run nonvariable cost 60 20 60 100 ? Refer to Table 10-2. Which firm is better off staying in business in the short run?
A. Firm A B. Firm B C. Firm C D. Firm D
The production possibilities frontier can be used to show all of the following except one. Which is the exception?
a. scarcity b. opportunity cost c. the law of increasing opportunity cost d. efficiency e. the best combination of goods and services for an economy
If you think that the economy is entering a recession, and fear that you might lose your job, explain how your actions of lowering your consumption level might actually increase the probability that you do lose your job
An externality exists whenever
a. the economy cannot benefit from government intervention. b. markets are not able to reach equilibrium. c. a firm sells its product in a foreign market. d. Bobbi engages in an activity that influences the well-being of Rosa and yet Bobbi neither pays nor receives payment for that influence.