Property rights
A) only need to be found in wealthy segments of the population.
B) need to be universal.
C) do not promote incentives.
D) do not promote efficiency
B
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
Even a monetary policy based on a rigid high-powered money growth rate rule can lack policy credibility, due in part to ________, while a policy that targets the inflation rate itself ________
A) lags, must have policy credibility by definition B) lags, can lack credibility due to both lags and multiplier certainty C) multiplier uncertainty, must have policy credibility by definition D) multiplier uncertainty, can lack credibility due to both lags and multiplier uncertainty
The above figure shows the payoff matrix facing an incumbent firm and a potential entrant. If the fixed cost of entry were to increase, which of the following would occur?
A) The incumbent chooses the Cournot level of output. B) The incumbent shuts down. C) The entry-deterring level of output rises. D) The entry-deterring level of output falls.
Congress expects Social Security and Medicaid to fall short of revenue that will be needed to cover promised benefits in the future. On what evidence are these expectations based?