The more difficult the goal, the more likely military force is going to be needed to back up economic sanctions
Indicate whether the statement is true or false
TRUE
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
A decrease in the price of VCRs will increase demand for video cassettes.
Answer the following statement true (T) or false (F)
After a drop in nominal aggregate demand, if menu costs prevent firms from reducing prices, this is considered ________ act by firms ________ a "macroeconomic externality."
A) a rational, because it produces B) a rational, that happens to produce C) an irrational, because it produces D) an irrational, that happens to produce
A factor of production is the same as:
A. the amount of a good produced. B. the price of a good. C. an opportunity cost. D. a resource.