What is meant by the term "fiscal"? What are the main elements of fiscal policies?
The term fiscal is derived from the Latin term fiscus, meaning state (i.e., government) revenues or treasury. Fiscal and monetary policies are the two main tools of macroeconomic policy. Fiscal policies are the set of policies relating to government spending, taxation, and borrowing.
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"If you hire 1 worker, the worker can produce 20 pizzas a day. If you hire a 2nd worker, that worker can produce 10 more pizzas. If you hire a 3rd worker, that worker can produce 2 more pizzas a day"
A graph displaying this relationship between the number of employees and total pizza output per day would show A) a positive linear relationship. B) an upward-sloping curve that becomes less steep. C) a negative linear relationship. D) a negatively-sloped curve that becomes less steep.
A positive markup is earned by a firm if its
A) price exceeds its marginal cost. B) marginal revenue equals marginal cost. C) price equals marginal cost. D) price equals average total cost.
Suppose new research shows that soy milk and other products derived from soybeans provide more health benefits than previously thought. At the same time, drought conditions result in extensive damage to the soybean crop
What will be the combined impact of these two factors on the equilibrium price and quantity of soybeans? A) Price will decrease, but the effect on quantity is indeterminate. B) Price will increase, but the effect on quantity is indeterminate. C) Quantity will decrease, but the effect on price is indeterminate. D) Quantity will increase, but the effect on price is indeterminate.
If you are planning to visit wildlife preserves in Kenya, you hope the U.S. dollar appreciates against Kenya's currency
a. True b. False