Changes in ________ that are intended to achieve macroeconomic policy objectives refer to fiscal policy
A) exchange rates
B) interest rates
C) government taxes and purchases
D) the money supply
C
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A price ceiling in the market for fuel oil that is below the equilibrium price will
A) lead to the quantity supplied of fuel oil exceeding the quantity demanded. B) lead to the quantity demanded of fuel oil exceeding the quantity supplied. C) decrease the demand for fuel oil. D) increase the supply of fuel oil. E) have no effect in the market for fuel oil.
The relationship between two variables, x and y, is a vertical line. Thus x and y are
A) positively correlated. B) negatively correlated. C) not related. D) falsely related.
According to Prisoners'' Dilemma
a. Both parties do not confess b. It is difficult to maintain cooperation among prisoners c. Both a and b d. None of the above
In the classical model, markets clear
a. in the short run b. every month c. immediately d. in the long run e. as soon as any shock occurs