Which of the following is a cost of economic growth?
A. the sacrifice of current consumption
B. inflation in consumption goods
C. the sacrifice of future consumption
D. excessive depletion of a nation's natural resources
Ans: A. the sacrifice of current consumption
Economics
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In the monetary intertemporal model, the long-run effects of an increase in the level of money include
A) an increase in employment. B) lower output. C) higher real wages. D) higher nominal wages.
Economics
In the short run, the profit-maximizing monopolistically competitive firm will produce the rate of output at which
A. P = ATC. B. P = MC. C. MR = ATC. D. MR = MC.
Economics