Nonactivists argue against the use of discretionary monetary policy and rules-based monetary policy
Indicate whether the statement is true or false
False
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The St. Louis Federal Reserve Bank econometric model indicates that crowding out
A) is only partial. B) never occurs. C) occurs only in highly unusual circumstances. D) is complete.
Chicken and fish are substitutes. Therefore, the cross elasticity of demand between chicken and fish is
a. negative. b. positive. c. zero. d. Any of the above is possible.
At equilibrium, quantity demanded equals quantity supplied.
Answer the following statement true (T) or false (F)
In the long term, if government forces monopoly firms to price their products at PMC and to sell QMC output, firms will ______.
a. purchase new equipment and increase profits b. fail to replace worn out capital and shut down c. invest too much in capital and shut down d. maintain stable profits by using capital more efficiently