The balance sheet of a bank shows its
A. profits and losses.
B. assets and liabilities.
C. revenues and costs.
D. earnings and expenses.
Answer: B
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There are four limitations to the effectiveness of discretionary fiscal policy. Which item below is NOT one of these limitations?
A) shrinking area of lawmaker discretion B) lawmaking time lag C) estimating potential GDP D) fiscal multiplier E) economic forecasting
If the marginal benefit of reducing emissions of some air pollutant is less than the marginal cost
A) economic efficiency will be increased if further reductions are made. B) pollution taxes should be imposed on producers to pay for further reductions. C) further reductions will make society better off. D) further reduction will make society worse off.
Why can a monopoly make a positive economic profit even in the long run?
What will be an ideal response?
Which of the following is an experiment which tests whether fairness is important in consumer decision making?
A) the preferential treatment game B) the behavioral experiment C) the ultimatum game D) the fair trade principle