When the economy is in short-run equilibrium, there will be ________ output gap.
A. only a recessionary
B. only an expansionary
C. either a recessionary or an expansionary
D. no
Answer: C
Economics
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Refer to Table 9-11. Which country has a comparative advantage in producing hats?
A) Denmark B) Belize C) both countries D) neither country
Economics
Based on our understanding of consumption and saving, we know that the marginal propensity to consume and the marginal propensity to save must
A) be equal to each other. B) sum to exactly one. C) sum to less than one. D) sum to more than one. E) be equal to the multiplier.
Economics