The process of deciding on and passing fiscal policy legislation creates:
A. an information lag.
B. an implementation lag.
C. a direction lag.
D. a formulation lag.
Answer: D
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Applying a uniform markup to set the price of the various products sold by a firm is more profitable than varying the markup based on differences in the price elasticity of demand for the firm's products
Indicate whether the statement is true or false
By focusing the customers on the price of a product, you make the demand for the product
a. More elastic b. Less elastic c. Perfectly inelastic d. None of the above
What role do non-monetary considerations play in physical capital investment decisions as opposed to human capital investment decisions?
a. they play a minor to nonexistent role in both. b. they play an equally important role in both. c. they are probably more important in physical capital investment decisions. d. they are probably more important in human capital investment decisions.
If short-run equilibrium output equals 10,000, the income-expenditure multiplier equals 5, the mpc equals 0.8, and potential output (Y*) equals 9,000, then transfers must be ________ by approximately ________ to eliminate any output gap.
A. increased; 200 B. increased; 250 C. decreased; 200 D. decreased; 250