When the government provides a legal framework,
A. Private market transactions benefit and government market transactions benefit.
B. Private market transactions suffer and government market transactions benefit.
C. Private market transactions suffer and government market transactions suffer.
D. None of the choices are correct.
Answer: A
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Which US President was in office during World War I?
a. Grover Cleveland. b. Herbert Hoover. c. Abraham Lincoln. d. Woodrow Wilson.
Imagine two economies that are identical except that for a long time, economy A has had a money supply of $1,000 billion while economy B has had a money supply of $500 billion. It follows that
a. real GDP and the price level are lower in country B. b. real GDP, but not the price level, is lower in country B. c. the price level, but not real GDP is lower in country B. d. neither the price level or real GDP is lower in country B.
A key issue in the present disagreement between Keynesian and monetarist economists is whether
A. monetary policy can bring the economy to full employment. B. the economy is better off with policymakers adopting a strict rule or using their discretion to set policies. C. monetary policy can influence interest rates. D. fiscal policy involves the use of taxation.
In the highly competitive setting in which oligopoly firms operate, which of the following are considered to be typical temptations for firms?
A. to cooperate to generate and then divide up monopoly-like profits B. to cooperate to mutually decide what price to charge C. to cooperate to make decisions about what quantity to produce D. all of the above