Supply-side economics calls for:
a. lower taxes on businesses and individuals.
b. regulatory reforms to increase productivity.
c. government subsidies to promote technological advance.
d. All of these.
d
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Can the U.S. dollar and the European euro both appreciate relative to each other?
a. Yes, both countries can gain in this manner. b. Yes, provided the central banks permit it. c. No, unless there is a system of fixed exchange rates. d. No, if one currency appreciates, the other must depreciate.
In the short-run Keynesian model, to close an expansionary gap of $10 billion dollars government purchases must be:
A. decreased by less than $10 billion. B. decreased by $10 billion. C. increased by $10 billion. D. increased by more than $10 billion.
The AS curve shows the total quantity of goods and services firms produce at any given price level.
a. true b. false
What is the total profit to the monopolist from selling the goods separately?
a. $12,000 b. $13,000 c. $11,000 d. $10,000