According to supply-side theory, which of the following would cause a leftward shift in the aggregate supply curve?
A. Eliminating excessive government regulation.
B. Reducing the minimum wage.
C. Increasing government regulations.
D. Reducing discrimination in employment.
Answer: C
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The economic benefit of a per-unit subsidy accrues disproportionately to the side of the market that is more price-inelastic.
Answer the following statement true (T) or false (F)
Suppose the cost function is C(Q) = 50 + Q ? 10Q2 + 2Q3. What are the fixed costs?
A. $10 B. $2 C. $50 D. $1
The central bank is said to monetize the deficit when it
A. prints Federal Reserve notes to satisfy the increased demand for money. B. sells government bonds from its own portfolio of government securities. C. requires member banks to buy the bonds to finance the deficit. D. purchases the bonds that the government issues.
Hyperinflation refers to a(n)
A. very rapid increase in the overall price level. B. increase in both price level and output. C. very rapid decrease in the overall price level. D. decrease in unemployment which is accompanied by a rapid increase in wages.