"Tax cuts, by providing incentives to work, save, and invest, will raise employment and lower the price level." This argument is made by the:
A. Keynesian economists.
B. supply-side economists.
C. classical economists.
D. monetarists.
Answer: B
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An asset's interest rate risk ________ as the duration of the asset ________
A) increases; decreases B) decreases; decreases C) decreases; increases D) remains constant; increases
When a product transformation curve for a firm is bowed inward, there are ________ in production
A) economies of scope B) economies of scale C) diseconomies of scope D) diseconomies of scale
In the Hotelling model, what effect would an increase in the transportation cost t have on, in the first instance, a monopoly firm and, in the second instance, two firms located at the extremes of the line segment who compete over the marginal consumer?
a. The monopolist's profit would decrease but the duopolists' would increase. b. Both monopolist's and duopolists' profits would increase. c. Both monopolist's and duopolists' profits would decrease. d. The monopolist's profit would increase but the duopolists' would decrease.
A market
a. may be an organized exchange. b. refers to a set of sellers and buyers whose actions affect a commodity's price. c. is that area in which buyers and sellers compete to affect a product price. d. All of the above are correct.