Income tax collections:
a. rise during a recession, thus reduce the severity of the recession.
b. rise during a recession, thus increase the severity of the recession.
c. fall during inflationary episodes, thus increase the severity of the inflation.
d. fall during a recession, thus reducing the severity of the recession.
d
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Ideal randomized controlled experiments in economics are
A) often performed in practice. B) often used by the Federal Reserve to study the effects of monetary policy. C) useful because they give a definition of a causal effect. D) sometimes used by universities to determine who graduates in four years rather than five.
If a runner's demand for bottled water increases, and the market price remains unchanged, the runner's consumer surplus
a. falls because the difference between what the runner is willing to pay and price decreases b. falls because the marginal utility of bottled water falls when the demand curve shifts to the left c. remains constant because price doesn't change d. increases e. is zero
Members of the Board of Governors are appointed by the president of the U.S. and confirmed by the U.S. Senate
a. True b. False Indicate whether the statement is true or false
Use the following graphs to answer the next question.
A short-run equilibrium that would produce losses for a monopolistically competitive firm would be represented by graph
A. A. B. B. C. C. D. D.