The majority of economists feel that ______.
a. the central bank should follow political business cycles
b. the central bank should support the wishes of the incumbent party
c. fiscal policy should take the lead role in stabilization
d. monetary policy should take the lead role in stabilization
d. monetary policy should take the lead role in stabilization
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Marginal profit equals the difference between marginal revenue and marginal cost.
Answer the following statement true (T) or false (F)
An advantage of the partnership form of business organization is
A) its limited liability. B) its limited access to capital, thus reducing the possible size of debt. C) the ability of its owners to specialize. D) that it is difficult to start up, because a lot of thought has to go into the establishment of the firm.
Games that are played more than once generally
a. lead to outcomes dominated purely by self-interest. b. lead to outcomes that do not reflect joint rationality. c. encourage cheating on cartel production quotas. d. make collusive arrangements easier to enforce.
Systemic risks are most likely to exist with regard to
A. small governments. B. large governments. C. small financial institutions. D. large financial institutions.