Most monetarists ________ advocate expanding the money supply during bad times and ________ advocate slowing the growth of the money supply during good times.
A. do not; do not
B. do not; do
C. do; do not
D. do; do
Answer: A
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Economic terms like “cost of living” and “price level” are important to ordinary individuals.
Answer the following statement true (T) or false (F)
Special interests are likely to have less influence over tax reform _____
a. when the reform is small b. when the reform is comprehensive c. when the reform is at the local level d. when the reform is at the state level
Firms that are price takers
a. are small relative to the total market. b. produce products that are different than their competitors. c. can sell only a portion of their output at the market price. d. have downward-sloping demand curves.
To protect the competitive economic system by restricting the formation of monopolies, the government has passed and enforced
A. the imposition of taxes on certain goods. B. zoning laws. C. rationing systems. D. antitrust laws.