Mainstream economics views monetary policy as a:
A. Source of instability, similar to the view of monetarism
B. Stabilizing factor, similar to the view of monetarism
C. Source of instability, while monetarism views it as a stabilizing factor
D. Stabilizing factor, while monetarism views it as a source of instability
D. Stabilizing factor, while monetarism views it as a source of instability
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A monopoly market has
A) a few firms. B) a single firm. C) two dominating firms in the market. D) only two firms in it. E) some unspecified number of firms in it.
What was the largest and most important economic event of the 1900s?
a. The terrorist attacks of 9/11. b. Ronald Reagan's tax cuts. c. The Great Depression. d. The inflation of the 1970s.
If a good is inferior and its price decreases,
a. the income effect will be positive and the substitution effect will be positive. b. the income effect will be negative and the substitution effect will be negative. c. the income effect will be positive and the substitution effect will be negative. d. the income effect will be negative and the substitution effect will be positive.
Which of the following will occur if the price level is below the equilibrium level?
A. Consumers will bid the price level up by competing for goods B. The quantity demanded will increase as the price level increases C. The quantity supplied will decrease as the price level increases D. Producers will bid the price level down by competing for buyers