Which of the following can prevent markets from reaching efficiency? I. decreasing marginal benefit II. taxes III. quantity regulations that limit the quantity that may be produced
A) I and II
B) I and III
C) II and III
D) I, II and III
C
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Which of the following is a characteristic of capitalism?
A. equality of income B. government decision-making is preferred to decentralized decision-making C. market determination of prices and quantity D. government ownership of all capital
Hyperinflation is caused by
A) a constant increase in the money supply. B) a high rate of growth in the money supply. C) real GDP growing more rapidly than the money supply. D) the money supply growing more slowly than GDP.
Keynesians believe in a relatively stable __________ curve, and thus recommend a monetary policy targeting the __________
A) IS; money supply B) IS; interest rate C) LM; money supply D) LM; interest rate
Total GDP is the best way to identify a less-developed country
a. True b. False Indicate whether the statement is true or false