The "anchor" that sustains the credibility of monetary policy is ________
A) easily weighed during the slightest of macroeconomic storms
B) composed of some indestructible substance
C) necessary to avoid central bank independence
D) available for scrutiny to all who care to observe
D
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Refer to Figure 23-1. If the economy is at point L, what will happen?
A) Inventories have risen above their desired level, and firms decrease production. B) Inventories have risen above their desired level, and firms increase production. C) Inventories have fallen below their desired level, and firms increase production. D) Inventories have fallen below their desired level, and firms decrease production.
In the (consumption,leisure) space, indifference curves as we have assumed them are
A) downward sloping and bowed out of the origin. B) downward sloping and bowed towards the origin. C) upward sloping and bowed out of the origin. D) upward sloping and bowed towards the origin.
The figure above shows a monopoly firm's demand curve. At point t
A) demand is elastic. B) demand is unit elastic. C) demand is inelastic. D) total revenue is at a minimum.
An effluent fee is more effective when imposed on
A) the firm or producer of the product which generates pollution. B) the consumer of the product. C) neither the producer nor the consumer of the product. D) the supplier of the raw material used by the firm.