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How can the federal government use discretionary fiscal policy to stimulate the economy?
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The law of demand describes the:
A. inverse relationship between price and quantity demanded. B. direct relationship between price and quantity demanded. C. inverse relationship between income and quantity demanded. D. direct relationship between income and quantity demanded.
According to behavioral economics, if people taking an exam were asked to guess the score they would receive, it would be most likely that
a. significantly more people would score below what they guessed than above what they guessed. b. significantly more people would score above what they guessed than below what they guessed. c. about the same number of people would score more than they guessed as scored less than they guessed. d. people's scores would be pretty close to what they guessed.
Monopoly is characterized by
A. a horizontal demand curve. B. many close substitutes. C. no barriers to entry. D. a downward sloping demand curve.