Fully anticipated monetary policy actions cannot alter either the rate of unemployment or the level of real GDP. This statement is
A) the nonaccelerating inflation rate of unemployment theory.
B) discretionary policy making.
C) the policy irrelevance proposition.
D) the Phillips curve.
C
Economics
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Twenty-four years before CUSTA, another agreement between the same countries covered trade in
A) textiles. B) steel. C) autos. D) agriculture. E) telecommunications.
Economics
Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC = $700; AVC = $500; MC = $600; MR = $600. The firm should
A) increase output. B) decrease output. C) continue to produce its current output. D) shut down.
Economics