Among the two most important methods economists use to identify illegal discrimination are
A. laboratory experiments.
B. "regression" techniques.
C. lottery number analyses.
D. random number simulations.
Answer: B
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If the Fed wants to lower the money supply
A) it should lower the discount rate. B) it should buy bonds. C) it should lower the reserve requirement. D) it should sell bonds.
Government failure
A. Results when government intervention fails to improve market outcomes. B. Occurs whenever the government intervenes in the market. C. Occurs whenever there is market failure. D. Does not occur; only market failure occurs.
The aggregate supply curve is positively sloped because as the price level increases:
A. Profit margins increase in the short run. B. Costs of production decline in the short run. C. The purchasing power of money increases. D. The cost of borrowing declines.
The hypothesis that changes in the money supply lead to proportional changes in the price level is called
A. the Keynesian multiplier. B. the quantity theory of money and prices. C. the theory of empirical relativity. D. the equation of exchange.