Economists who believe in activist policymaking argue that
A. only planned changes in the money supply impact the economy.
B. decreases in aggregate demand definitely impact the economy in the short run.
C. decreases in aggregate demand impact the economy only in the long run.
D. only increases in the minimum wage levels improve economic well-being.
Answer: B
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If someone buries money in a tin can beneath a tree, the money is functioning as a
A) medium of exchange. B) unit of account. C) means of payment. D) store of value. E) bartering tool.
In the short run, a permanent increase in the domestic money supply
A) has stronger effects on the exchange rate and output than an equal temporary increase. B) has stronger effects only on the exchange rate but not on output than an equal temporary increase. C) has weaker effects on the exchange rate and output than an equal temporary increase. D) has stronger effects on output, but lower effect the exchange rate than an equal temporary increase. E) has weaker effects only on the exchange rate than an equal temporary increase.
A linear total cost curve which passes through the origin implies that
a. average cost is constant and marginal cost is variable. b. average cost is variable and marginal cost is constant. c. average and marginal costs are constant and equal. d. need more information to answer question.
Scientists sent the Cassini spacecraft past Saturn, where it discovered rings around Saturn's moon Rhea. This is an example of
A. technological diffusion. B. applied research. C. product development. D. basic research.