The economy tends to be more stable with a __________ LM curve causing interest rates to be rather __________ to shifts in the IS curve
A) steeper; sensitive
B) steeper; insensitive
C) flatter; sensitive
D) flatter; insensitive
A
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Albro Martin (1971) argues that the Interstate Commerce Commission (1887–1995) was
(a) never a case of "capture." (b) "captured" by the railroads themselves. (c) "captured" by the customers of the railroads. (d) too ineffective to warrant "capture" by anyone.
A consumer values a car at $30,00 . and a producer values the same car at $20,000 . If the transaction is completed at $24,000 . the transaction will not take place if:
a. The tax is equal to the seller surplus b. The tax is smaller than the total surplus c. The tax is larger than the total surplus d. The tax is smaller than the buyer surplus
Using Figure 3 below the distance between what 2 lines illustrate a recessionary expenditure gap?
A. PAE2 to PAE3
B. PAE1 to PAE2
C. Y1 to Y2
D. Y2 to Y3
Figure 17-9
Refer to . With trade and without a tariff,
a.
the domestic price is equal to the world price.
b.
carnations are sold at $8 in this market.
c.
there is a shortage of 400 carnations in this market.
d.
this country imports 200 carnations.