In the early 1990s, M2 growth underwent a dramatic ________, which some researchers believe ________ be explained by traditional money demand functions
A) surge; cannot
B) surge; can
C) slowdown; cannot
D) slowdown; can
C
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The use of a property tax to fund public schools is an example of _____
a. the benefit principle at work b. the ability-to-pay principle at work c. a compromise between the benefit and ability-to-pay principles d. the Ramsey rule at work
Suppose a monopolist and a competitive price-taker firm have the same cost curves. The monopoly firm would
a. charge a lower price than the competitive price-taker firm. b. charge a higher price than the competitive price-taker firm. c. charge the same price as the competitive price-taker firm. d. refuse to operate in the short run unless an economic profit could be made. e. refuse to operate in the short run if an economic loss was present.
Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. If they then still sell almost the same number of sodas per day, this suggests:
A. soda purchases represent a large fraction of students' budgets. B. there are few other places to purchase soda on campus. C. the price elasticity of demand for soda is equal to 1. D. students do not have good nutritional information.
Government intervention may be appropriate to correct market outcomes because of
A. Externalities. B. Production possibilities. C. Private goods. D. None of the choices are correct.