IMF quotas
A) depend on the size of an economy and its strength.
B) strictly limit the amount that a country can borrow.
C) should be increased.
D) are equal to the amount that a country can borrow from the IMF.
A
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According to your textbook, which procedure is the general rule to follow in order to maximize net revenue?
A) Always choose a 25 percent markup if demand is inelastic. B) Always choose a 25 percent markup if demand is elastic. C) Always choose a markup between 50 and 100 percent (inclusively) if demand in inelastic. D) Always choose no more than a 10 percent markup if demand is perfectly elastic. E) None of the above.
The profit maximizing output level for a perfectly competitive firm is always where
A. P = AVC. B. MC = ATC. C. MC = AVC. D. P = MC.
If aggregate demand shifts right and the President and Congress want to use fiscal policy to reverse the change in output, they could
a. increase government expenditures. If by the time policy has been implemented the economy has moved back to long-run equilibrium, then this policy will raise output above its long-run level. b. increase government expenditures. If by the time policy has been implemented the economy has moved back to long-run equilibrium, then this policy will reduce output to below its long-run level. c. decrease government expenditures. If by the time policy has been implemented the economy has moved back to long-run equilibrium, then this policy will raise output above its long-run level. d. decrease government expenditures. If by the time policy has been implemented the economy has moved back to long-run equilibrium, then this policy will reduce output to below its long-run level.
“Economists are scientists and therefore should not become involved in making value judgments which policy formulation necessarily entails.” Do you agree?
Please provide the best answer for the statement.