Policies to keep inflation in check ________
A) are, typically, fiscal policies
B) are a potential cause of high unemployment
C) are unlikely to be needed, so long as government spending remains high
D) include increasing the quantities of money and saving
E) are desirable in the short run, but may produce bad long-run outcomes
B
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Which of the following statements is true?
A) A rational consumer makes his decisions depending on what the majority chooses. B) A trade-off refers to the exchange of goods between economic agents through a barter system or mutual exchange. C) A budget constraint is an economic tool that quantifies the trade-off between consumption of two goods. D) All rational economic agents attempt to maximize their income.
The principle of minimum differentiation
A) results in political parties proposing very similar or possibly identical policies. B) refers to the tendency of competitors to make themselves different in order appeal to the maximum number of clients or voters. C) explains why Burger King, Wendy's, and other fast food restaurants tend to locate far away from each other. D) None of the above answers are correct.
The typical total profit graphical presentation is shown as
A. a square. B. a rectangle. C. a hill, or mound. D. an S curve.
The rate of interest that the Federal Reserve charges on loans to member banks is the:
a. open market rate. b. federal funds rate. c. discount rate. d. prime interest rate. e. reserve lending rate.