Which of the following is a disadvantage to monetary targeting?
A) It relies on a stable money-inflation relationship.
B) There is a delayed signal about the achievement of a target.
C) It implies larger output fluctuations.
D) It implies a lack of transparency.
A
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Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below.
The public is willing to pay $14 for the ________ acre of parkland.
A. $6. B. $8. C. $20. D. $14
A decrease in the quantity supplied is represented by a
A) movement down the supply curve. B) movement up the supply curve. C) rightward shift in the supply curve. D) leftward shift in the supply curve.
Many residents of the city of Adelphia drive without automobile insurance. Assuming that Adelphia is just like any other city and these are risk averse individuals, which of the following is most likely TRUE?
A) Economic models do not work. B) These people maximize wealth. C) The price of automobile insurance exceeds their maximum value of insurance. D) There are no automobile accidents or thefts in the city of Adelphia.
Under monopolistic competition, firms produce ________ products and have prices ________ marginal cost.
A. differentiated; above B. differentiated; below C. homogenous; above D. homogenous; below