A statement issued by the president’s economic advisors stating that growth can continue without price increases indicates that they believe the relevant aggregate supply curve is

At the time of the South Korean financial crisis, the government allowed many chaebol owned finance companies to convert to merchant banks. Finance companies ________ allowed to borrow abroad and merchant banks ________

A) were not; could borrow abroad B) were not; could not borrow abroad C) were; could borrow abroad D) were; could not borrow abroad

When consumption of a good or service produces benefits or costs that are not reflected in the market price for the good, this is known as a(n):

a. externality. b. common pool problem. c. nonexcludable resource. d. public good.