Answer the following statement(s) true (T) or false (F)
1. It is rare that actual and potential real GDP are equal.
2. The potential output in the United States grows over time, so the LRAS is shifting leftward over time.
3. Cost-push inflation causes an inflationary gap.
4. The classical school is associated with French economist John Maynard Keynes.
5. Economists continue to debate the actual shape of the short-run aggregate supply curve.
1. True
2. False
3. False
4. False
5. True
Economics
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The four criteria for economic integration include trade flows, capital flows, people flows, and the similarity of prices in separate markets
Indicate whether the statement is true or false
Economics
More education and training usually lead to higher levels of
a. productivity. b. population. c. pollution. d. import protectionism.
Economics