An economic variable that moves in the opposite direction as aggregate economic activity (down in expansions, up in contractions) is called
A) procyclical.
B) countercyclical.
C) acyclical.
D) a leading variable.
B
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What are two ways that raising taxes on the rich can harm society?
What will be an ideal response?
Product differentiation means
A) making a product that has perfect substitutes. B) making a product that is entirely unique. C) the inability to set your own price. D) making a product that is slightly different from products of competing firms. E) making your demand curve horizontal.
Which of the following is NOT an operating instrument?
A) nonborrowed reserves B) monetary base C) federal funds interest rate D) discount rate
Shin's uncompensated demand for widgets is given by Q = 10/p. According to this demand, Shin's Marginal Willingness to Pay function is
A) 10/Q. B) 10/p. C) 10Q. D) -10/p2.