Advocates of discretionary policy make these criticisms of the economy's "self-correcting" mechanism:
a. it is slow
b. it is not very reliable
c. it works only when supplemented by automatic stabilizers
d. All of the above are correct.
e. a and b only are correct.
e
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The country in which two of the categories of banks are clearing banks and merchant banks is
A) the United Kingdom. B) the United States. C) Japan. D) Germany.
A major diversion that is not of the income flow to the private sector is
A. Investment. B. Wages. C. Indirect business taxes. D. None of the choices are correct.
The MPS is about
A. .9.
B. .85.
C. .8.
D. .75.
The first Pepsi yields Craig 18 units of utility and the second yields him an additional 12 units of utility. His total utility from three Pepsis is 38 units of utility. The marginal utility of the third Pepsi is:
A. 26 units of utility. B. 6 units of utility. C. 8 units of utility. D. 38 units of utility.