A "social planner" is a fictional societal planner who would always choose the same outcome as the competitive market.
Answer the following statement true (T) or false (F)
False
Rationale: A social planner is an economist's fictional societal planner who tries to accomplish some goal and might, in some instances, mimic the market.
Economics
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Because oil price increases reduce the consumption of oil, this discourages the development of oil substitutes
Indicate whether the statement is true or false
Economics
Everything else held constant, a monetary contraction is characterized by ________ output and ________ interest rates
A) rising; rising B) rising; falling C) falling; rising D) falling; falling
Economics