The broad field of ________ would most likely study how all consumers respond to a hike in cigarette taxes.
A. labor economics
B. development economics
C. microeconomics
D. macroeconomics
Answer: C
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An inflation-prone country
A) gains from vesting its monetary policy decisions with a "conservative" central bank. B) loses from vesting its monetary policy decisions with a "conservative" central bank. C) gains from vesting its fiscal policy decisions with a "conservative" central bank. D) loses from vesting its fiscal policy decisions with a "conservative" central bank. E) remains constant when vesting its fiscal policy decisions with a "conservative" central bank.
Suppose y is measured on the vertical axis, x is on the horizontal axis, and the various combinations of x and y are shown by a nonvertical straight line. Which of the following must be true?
a. There is a negative relation between x and y. b. There is a positive relation between x and y. c. There is a causal relation between x and y. d. If the value of x is known, the value of y can be determined. e. The value of y is independent of the value of x.
Indifference curves are steeper on the right and flatter on the left
a. True b. False Indicate whether the statement is true or false
The Taylor rule is a recommendation of how
A) banks should determine worthy loan recipients. B) the Fed should set the required reserve ratio. C) the Fed should set the federal funds rate target. D) banks should securitize their debt.