The equation for the consumption function maps out a(n)
a. upward sloping straight-line (linear) curve
b. downward sloping straight-line (linear) curve
c. horizontal (straight-line or linear) curve
d. rectangular hyperbola
e. vertical (straight-line or linear) curve
A
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When good weather speeds the check-clearing process, float tends to ________ causing the Fed to initiate ________ open market ________
A) decrease; defensive; sales B) decrease; dynamic; sales C) decrease; defensive; purchases D) increase; dynamic; purchases
In the Perspective on profit maximization and greed, greed is regarded as
a. inherent in capitalist societies b. an evil that must be addressed by all societies c. an expression of behavior that can be associated with all forms of profit maximization d. an acceptable mode of behavior in a zero-sum world e. having no negative consequences in a zero sum world
Although economists generally favor a negative income tax, there is little political support for it
a. True b. False Indicate whether the statement is true or false
Drivers have to pay a toll to drive on certain roads. In essence, a toll is a corrective tax on the externality of __________
Fill in the blank(s) with correct word