The demand for Ben & Jerry's ice cream will likely be ________ the demand for dessert.
A. more price elastic than
B. equally price elastic as
C. less price elastic than
D. indeterminate from the given information
Answer: A
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A major cause of environmental degradation in developing countries is
(a) debt for nature swaps. (b) poverty. (c) a lack of public transportation. (d) land reform.
Arguments for discretionary policies include
A) policy rules can be too rigid because they cannot foresee every contingency. B) the time-inconsistency problem can lead to poor economic outcomes. C) discretionary policies pursue overly expansionary monetary policies to boost employment in the short run but generate higher inflation in the long run. D) all of the above.
According to the Taylor rule, if actual output is greater than the natural rate of output, then the Fed should
a. decrease inflation. b. increase interest rates. c. conduct open market sales. d. decrease interest rates. e. Both a and b
An argument for tariffs that has some validity is
a. the infant-industry argument. b. the leveling-the-playing-field argument. c. the retaining-money-at-home argument. d. All of these.