Given the desire of politicians to get reelected, they might try in the short run to use _____
a. a contractionary monetary policy
b. an expansionary fiscal policy
c. an expansionary monetary policy
d. tax increases
e. automatic stabilizers to control demand
b
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Which of the following examples best describes the Law of Diminishing Marginal Benefit?
A) If a seller of notebooks in a perfectly competitive market charges above the market price, his profit decreases. B) With each additional pen Jill buys, her willingness to pay for another pen decreases. C) Each additional unit of ice cream that John consumes gives him more and more satisfaction. D) If the weather gets cold, the demand for ice cream will fall.
Which of the following statements about economic analysis is true?
A) Unlike positive economic analysis, normative economic analysis can be tested. B) There is much more disagreement among economists over normative economic analysis than over positive economic analysis. C) Normative economic analysis is concerned with "what is," whereas positive economic analysis is concerned with "what ought to be." D) Economics is primarily about normative analysis, which measures the costs and benefits of different courses of action.
The current demand for money increases when
A) current real income increases. B) future real income decreases. C) the nominal rate of interest increases. D) none of the above.
Which was not one of the main U.S. land acquisitions?
a. Mexican Cession b. Western Purchase c. Gadsden Purchase d. The Oregon Country