If the firm is minimizing losses, it is producing ___ units of output and charging a price of ___.
A. OM; ON
B. OL; ON
C. OM; OF
D. OL; OF
A. OM; ON
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If inflationary expectations on the part of the public increase, the trade-off between inflation and unemployment becomes worse
Indicate whether the statement is true or false
Which of the following effects takes place as a result of automatic stabilization?
A) extra tax revenues are generated in a boom B) tax revenues remain constant during a recession C) leakages increase during a recession, helping to stimulate the economy D) Both A and C are correct.
Why were traditional Federal Reserve policies ineffective during the 2007-2009 recession?
What will be an ideal response?
"A positive economic statement is always true and a normative economic statement is always false." Do you agree or disagree with this statement? Explain
What will be an ideal response?