Republicans often argue in favor of what to push the economy toward economic recovery, as they did during the recession that began in 2008?
A. Decrease government spending
B. Increase government spending
C. Tax cuts
D. Encourage the public to save more
Answer: C
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A decrease in the interest rate causes
A) movement up the IS curve. B) movement down the LM curve. C) the IS curve to shift to the left. D) the LM curve to shift to the right.
An incumbent monopolist producing more output than necessary might be able to keep potential rivals from entering
A) by flooding the market with products below its marginal cost in the short run. B) if learning by doing reduces marginal cost. C) if the long-run marginal cost can be lowered below the potential entrant's short-run marginal cost. D) All of the above.
Refer to Figure 2-1. Along the production possibilities frontier, the most efficient point of production depicted is:
A. Point B B. Point C C. Point D D. All points on the production possibilities frontier are equally efficient.
When supply increases and the supply curve shifts to the right, equilibrium price and equilibrium quantity will both increase.
Answer the following statement true (T) or false (F)