The NAIRU is a key indicator of how
A. much the economy can slow down without a recession.
B. much structural unemployment the economy can sustain.
C. unemployment trends occur.
D. much faster the economy can grow without pushing up inflation.
Answer: D
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One of the reasons that a firm can be ________ efficient than a market is that the firm ________
A) more; does not have any economies of scale B) more; lowers transactions costs C) less; has economies of scope D) less; produces lower profits
If the quality or quantity of a particular public service is very difficult to monitor, government is more likely to
a. produce the service itself b. contract with private firms to supply the service c. take over private corporations to produce the service d. refuse to provide the service e. raise the price to consumers of the service