A golf course in Fargo, North Dakota — where it is very cold in the winter — is closed between November 1 and April 1 . If the owner of the golf course is rational, what criterion does he or she use in deciding to close the course for this extended period of time?
The owner has determined that total revenue would fall short of variable cost during the November 1 – April 1 period.
Economics
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Which of the following situations is one in which the Fed will potentially pursue expansionary monetary policy?
A) Aggregate demand is growing too fast to keep the economy at full employment. B) Potential GDP is forecasted to be lower than equilibrium GDP. C) Potential GDP is forecasted to be higher than equilibrium GDP. D) Aggregate demand is growing too slowly and the economy is in danger of producing GDP above full employment.
Economics
Explain the essential difference between fixed and flexible exchange rate systems
Economics