Which scenario is the BEST example of how the government would act in a mixed market economy?
A) The government requires a factory to produce surplus goods for the use of the military.
B) The government stops a factory from producing imitations of an expensive type of purse.
C) The government allows only two competitors to offer goods for sale on the country's highways.
D) The government imposes a limit on the number of television sets that can be exported annually.
Answer: B) The government stops a factory from producing imitations of an expensive type of purse.
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When tastes are quasilinear in leisure, which of the following is true:
A. The wage elasticity of labor supply is zero. B. The wage elasticity of labor supply is positive. C. The wage elasticity of labor supply is negative. D. The wage elasticity of demand is negative. E. Both (a) and (d). F. Both (b) and (d). G. Both (c) and (d).
A computer software program is most strongly an example of
A) real property. B) fiat property. C) intellectual property. D) vicarious property.
The government's fiscal policy is its plan to regulate aggregate demand by manipulating: a. the money supply
b. taxation and government purchases. c. the treasury. d. the energy department.
Which of the following does not reduce the potential burden of an increase in debt on future generations?
a. the growth rate of output is high b. in response to increased debt, parents save more to leave their children larger bequests c. budget deficits raise interest rates d. All of the above are correct.