Milton Friedman argued that as long as
A) the unemployment rate is higher than the inflation rate, the economy is not in long-run equilibrium.
B) Real GDP grows, the inflation rate will fall.
C) the expected inflation rate is not equal to the actual inflation rate, the economy is not in long-run equilibrium.
D) nominal wages rise, so do real wages.
E) none of the above
C
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Which of the following most accurately and completely describes the responsibilities the Constitution gave to the federal government?
a. The authority to provide for copyrights and patents b. The right to tax c. The authority to regulate interstate commerce d. All of the above
A warranty offered by a seller is one way to overcome: a. A warranty offered by a seller is one way to overcome:. b. a negative externality problem
c. an adverse selection problem. d. a free-rider problem.