What is the reason that stabilization policies do NOT have an immediate effect on an economy?
A) Consumers are slow to catch up on spending.
B) Imports come into the country too fast.
C) Exports often are not shipped fast enough.
D) There is a time lag for policies to take effect.
D
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Which of the following is not a function of government?
a. promotion of competition b. stabilization to achieve the macroeconomic goals c. redistribution of income through taxation and transfer payments d. production of public goods e. providing the economy's private goods
Which of the following factors are involved in monopolistic competition?
a. operates at minimum ATC; allocative inefficiency; productive efficiency b. fails to operate at minimum ATC; allocative inefficiency; productive inefficiency c. operates at minimum ATC; allocative efficiency; productive inefficiency d. fails to operate at minimum ATC; allocative efficiency; productive efficiency
The industry indicated by the graphs below would be a(n):
A. Increasing-cost industry
B. Decreasing-cost industry
C. Constant-cost industry
D. Monopoly industry
The figure above shows that the lowest wage rate for which someone is willing to work is
A) $3 an hour. B) $5 an hour. C) $6 an hour. D) $7 an hour. E) $4 an hour.