Refer to the table for a fictional economy. The changes in the budget conditions between 2000 and 2001 best reflect:
A. demand-pull inflation.
B. cost-push inflation.
C. an expansion of real GDP and an automatic increase in tax revenues.
D. a contractionary fiscal policy.
C. an expansion of real GDP and an automatic increase in tax revenues.
Economics
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In perfect competition, _____
a. economic profits are eliminated by entry in the long run b. economic profits are eliminated by exit in the long run c. price is greater than marginal cost at the profit-maximizing equilibrium d. the marginal cost curve is perfectly elastic in the long run
Economics
A woman gives her boyfriend a birthday present. The gift could be viewed by the boyfriend as a
a. moral hazard problem. b. screening device. c. signal of how much she cares for him. d. All of the above are correct.
Economics