In order to make effective policy changes, policy makers need to know
a. where the economy is going to be six to twelve months from now.
b. the magnitude of past recessions.
c. Keynesian economics.
d. the exact size of the current M1 money supply.
A
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Decreases in the demand curve for labor may arise from ____ in labor productivity or from ____ in the price of the good
a. increases; increases. b. increases; decreases. c. decreases; increases. d. decreases; decreases.
Economists usually assume that all consumers have the same tastes and preferences
a. True b. False
The form of public debt that matures in 30 years is the
a. Treasury certificate of deposit b. Treasury bill c. Treasury note d. Treasury bond e. U.S. savings bill
Because marginal cost is always ________ in the short run, total variable cost always ________ when output increases.
A) positive; increases B) positive; decreases C) negative; increases D) negative; decreases