Supply-side macroeconomic policy is based on the idea that an increase in the aggregate supply curve will result from a decrease in business taxes and deregulation, resulting in both an increase in real GDP and an increase in the overall price level
Indicate whether the statement is true or false
false
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If total profit is maximized, then marginal cost must equal marginal revenue.
Answer the following statement true (T) or false (F)
Which of the following is NOT part of the FOMC directive?
A) It lays out the FOMC's general economic objectives. B) It specifies target ranges for money supply growth. C) It establishes short-term federal funds rate objectives. D) It specifies who the chair of the Fed is.
To justify restricting trade, the less-developed countries have more reason to use this argument than industrially advanced countries
a. retaliation b. national security c. cheap foreign labor d. infant industries e. unionized foreign labor
While waiting in line to buy two tacos at 75 cents each and a medium drink for 80 cents, Jordan notices that the restaurant has a value meal containing three tacos and a medium drink all for $2.50. For Jordan, the marginal cost of purchasing the third taco would be
A) 75 cents. B) zero. C) 80 cents. D) 20 cents.