Although monetary policy cannot reduce the natural rate of unemployment, other types of government policies can
a. True
b. False
Indicate whether the statement is true or false
True
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Geographical conditions such as good climate, availability of natural resources, and fertile soil are examples of:
A) proximate causes of prosperity. B) implicit causes of prosperity. C) fundamental causes of prosperity. D) explicit causes of prosperity.
For this question, assume that Ricardian Equivalence proposition does not hold. Briefly discuss the short-run, medium-run and long-run effects of a fiscal expansion (e.g. tax cut)
What will be an ideal response?
Figure 3-6
In Figure 3-6, assume this economy is currently operating at point D. What is the opportunity cost of moving to B?
A. About 200 bushels of wheat B. 200 bushels of soybeans C. Infinite, B cannot be produced at any cost. D. 0
Liberals tend to favor increasing taxes as the method of counteracting inflation
a. True b. False Indicate whether the statement is true or false