A supply-side policy to cure inflation would include
A. A minimum wage increase.
B. A reserve requirement decrease.
C. Deregulation.
D. Tax increases.
Answer: C
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Refer to the table above. If there is no statistical discrepancy, the sum of all three balance of payments accounts equals
A) -$20 billion. B) +$220 billion. C) +$20 billion. D) zero E) +$200 billion.
A scatter diagram shows the
A) level of one variable over time. B) change in one variable over time. C) relationship between two variables. D) evolution of a variable.
In the second circular-flow model of Chapter 2, households have two uses for their total income:
A) consumption and investment. B) consumption and saving. C) saving and investment. D) saving and payment of taxes. E) consumption and payment of taxes.
A firm producing a smoke externality is producing
a. more than the socially optimal quantity of output. b. less than the socially optimal quantity of output. c. exactly the socially optimal quantity of output. d. There is insufficient information to answer.