Which of the following economic theories focus on aggregate demand to explain changes in unemployment and inflation?
A. Classical and supply-side
B. Keynesian and monetarist
C. Classical and Keynesian
D. Classical but not monetarist
B. Keynesian and monetarist
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What are the major components of M1? What are the major components of M2? Describe each component
What will be an ideal response?
Employing a fixed-weight index like the Consumer Price Index to adjust a person's salary in response to inflation will overcompensate this person because doing so will allow this person to
A) buy the same bundle of goods as he did before the inflation. B) achieve a higher level of utility than he did before the inflation. C) achieve the same level of utility as before the inflation. D) buy more of all goods.
The goal of the plaintiff is to ________ their ________.
A) maximize; loss B) minimize; loss C) minimize; gain D) maximize; gain
A customs duty is
a. a tax in the form of a percentage of the value of the good taxed b. a fixed tax in the form of cents or dollars per unit of the good c. a sales tax applied to a foreign good d. any tax levied on a good e. the same as a poll tax