According to many modern monetarists, the government can minimize economic instability by stabilizing growth of the __________.
Fill in the blank(s) with the appropriate word(s).
money supply
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Refer to Figure 4-9. For each unit sold, the price sellers receive after the tax (net of tax) is
A) $12. B) $8. C) $4.40. D) $3.
The prevailing budget philosophy prior to Keynes called for a balanced budget. Keynes argued that the government should not balance its budget but instead have budget deficits during
a. economic booms. b. during periods of peace but surpluses during periods of war. c. periods of inflation. d. economic recessions.
As the number of firms in an oligopoly industry decreases, the market moves closer to a __________ market
Fill in the blank(s) with correct word
The exiting of firms from a perfectly competitive industry occurs when
A. P = ATC. B. accounting profit is less than economic profit. C. MR equals MC. D. opportunity costs cannot be covered.