Consider a barter situation where you have pens and you want pencils. To achieve your objective there must be a(n):
A. use of capital goods.
B. coincidence of wants.
C. entry and exit from the market.
D. large number of sellers.
Answer: B
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The shorter is the interval between firms' price adjustments,
A) a given unexpected increase in aggregate demand will cause a larger increase in output. B) the greater is the scope for activist policies to stabilize the economy. C) the smaller is the scope for activist policies to stabilize the economy. D) a given unexpected increase in aggregate demand will cause a smaller increase in the price level in the short run.
Compare and contrast the arguments favoring active versus passive policy making
What will be an ideal response?
Other things constant, which of the following would tend to increase the demand for Toyota autos?
A) A fall in the price of Toyotas B) A fall in the price of Chryslers (a substitute for Toyotas) C) A rise in income, if Toyotas are a normal good D) A rise in income, if Toyotas are an inferior good
Which agency was created by Congress in 1914 to investigate and regulate unfair methods of competition?
a. the Department of Justice b. the Federal Trade Commission c. the Interstate Commerce Commission d. the General Accounting Office e. the Council on Competitiveness