When the economy is in equilibrium, there will be no unemployment
Indicate whether the statement is true or false
F
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The new growth theory asserts that
A) eventually people earn only a subsistence living. B) a discovery can be used by only one person, the discoverer. C) technology improves slowly while population grows rapidly. D) production processes can be replicated at many different firms in the economy. E) the population growth rate will increase when real GDP per person increases.
New information ought not to influence economic decision-making if ________
A) consumers rely on rational expectations B) monetary policy changes C) monetary and/or fiscal policy changes D) that information has already been anticipated
If adverse selection exists in a market,
A) it increases consumer surplus but reduces producer surplus. B) it reduces consumer and producer surplus. C) it reduces producer surplus but has no impact on consumer surplus. D) it increases both consumer and producer surplus.
Status-quo bias is:
A. a type of mental barrier to saving. B. when people actively make decisions to change something, even if it is fairly difficult to do so. C. not overcome in the SMarT program because saving is the default option. D. when people have a negative view on the status quo.