Economists assume that early in the process of cleaning a dirty environment, there are relatively
A. low benefit-low cost things than can and should be done first.
B. high benefit-low cost things than can and should be done first.
C. low benefit-high cost things than can and should be done first.
D. high benefit-high cost things than can and should be done first.
Answer: B
Economics
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When the inflationary gap is finally eliminated, a long-run equilibrium is established with a ____ price level and with GDP ____ potential GDP
a. higher; equal to b. higher; greater than c. lower; equal to d. lower; greater than
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A decrease in the unemployment rate will shift the production possibilities frontier outward from the origin.
Answer the following statement true (T) or false (F)
Economics