Policies to reduce the likelihood of financial crises might include ________
A) enlarging government budget deficits
B) reducing imbalances in global trade and capital flows
C) keeping the inflation rate near or below zero
D) more aggressive use of stabilization policy
E) all of the above
B
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The 2001 and 2003 tax cuts of the George W. Bush administration each had provisions to
A. lower the earned income tax credit. B. raise tax rates at the upper end. C. raise tax rates at the lower end. D. increase (or speed up the already scheduled increase in) the child tax credit.
At the profit-maximizing level of output for a perfectly competitive firm, price equals marginal cost. Which of the following is also true?
A) Total revenue equals total cost. B) Marginal profit equals marginal cost. C) Average revenue equals average total cost. D) The difference between total revenue and total cost is the greatest.
Which factor receives the profit from production?
a. land b. labor c. capital d. entrepreneurship
An negative externality is present whenever:
a. the private marginal cost of an activity exceeds the private marginal benefit. b. the private marginal benefit of an activity exceeds the private marginal cost. c. the social marginal cost of an activity exceeds the private marginal cost. d. none of the above