The self-correcting mechanism is the reason that the economy will behave as the classical model predicts in the long run
a. True
b. False
A
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A perfectly competitive firm is producing at the point where its marginal cost equals its marginal revenue. If the firm boosts its output, its total revenue will ________ and its profit will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Unintended consequences are the ______ effects of an action.
a. purposeful b. unimportant c. primary d. secondary
Debit cards are
A) counted as money because they perform the medium of exchange function of money. B) not considered money because they merely show that their owners have a relationship to money. C) are counted as a part of M2 but not M1. D) counted as money because they provide access to their owners' checkable deposits.
Which of the following is not part of the "taxes" provision of the Patient Protection and Affordable Care Act (ACA)?
A) Pharmaceutical firms and health insurance firms pay new taxes. B) Investors earning more than $200,000 pay a new tax on their investment income. C) Beginning in 2018, all taxes on employer-provided health insurance plans will be reduced or eliminated. D) Workers earning more than $200,000 pay higher Medicare payroll taxes.