Suppose consumer tastes and preferences shift from pizza to tacos. In the short run case, these changing tastes will result in pizza restaurants ________ pizza prices and taco restaurants ________ taco prices
A) decreasing; increasing B) decreasing; decreasing
C) increasing; increasing D) increasing; decreasing
A
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Which of the following is not a requirement of member banks of the Federal Reserve?
a. buy stock of the Federal Reserve Bank of its district. b. maintain sufficient monetary reserves to meet the requirements set by the Board of Governors. c. hold ten percent of their assets in short-term government securities. d. insure their deposits with the FDIC.
A goal of libertarians is to provide citizens with equal opportunities rather than to ensure equal outcomes
a. True b. False Indicate whether the statement is true or false
If the social costs of refining oil are greater than the private costs of oil refining, then
A. users of products that use refined oil are paying too much for the products. B. the amount of oil refining needs to increase in order to bring social costs and private costs in line with each other. C. the external costs of oil refining are greater than the social costs of oil refining. D. there is too much oil refining.
The portion of the Obama stimulus package that cut taxes is best thought of as
A. discretionary (and contractionary) fiscal policy. B. monetary policy. C. nondiscretionary fiscal policy. D. discretionary (and expansionary) fiscal policy.