Just as the aggregate-supply curve slopes upward only in the short run, the trade-off between inflation and unemployment holds only in the short run
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The balanced budget multiplier is equal to
a. 1/(1 – MPC) b. 1/(1 – MPC) + –MPC/(1 – MPC) c. MPC/(1 – MPC) d. (1 – MPC)/MPC e. 2
Aggregate demand is a schedule that shows the various amounts of goods and services that only consumers and businesses desire to purchase at each possible price level.
Answer the following statement true (T) or false (F)
An action that is the best choice under all conditions is known as a:
A. profit-maximizing strategy. B. dilemma. C. trigger strategy. D. dominant strategy.
Why is efficiency desirable?
A) It results in an equal distribution of income. B) It results in zero unemployment. C) It makes best use of the finite resources we have. D) It is the most politically popular solution.