"Inflation Targeting Rule" is a special case of a
A) Taylor Rule with zero weight on output.
B) Taylor Rule with zero weight on inflation.
C) Taylor Rule with an equal weight on output and inflation.
D) Taylor Rule with different but positive weights on output and inflation.
A
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If the price elasticity of demand equals 1.0, then as the price falls, the
A) quantity demanded decreases. B) total revenue falls. C) quantity demanded does not change. D) total revenue does not change.
The economic theory of discrimination suggests that the practice of apartheid in South Africa should have
A. worsened the economic condition of only the blacks. B. worsened the economic condition of only the whites. C. worsened the economic condition of blacks, whites, and others. D. improved the economic condition of the whites.
Which of the following would be considered an ongoing expense?
A. Raw materials B. Advertising C. Employee salaries D. All of these could be considered ongoing expenses.
Which of the following terms describes the situation in which all resources are able to move to to highest-valued uses via voluntary exchange?
A) government intervention B) a market failure C) economic efficiency D) an externality