Fiscal policies are different from monetary policies because:
a. Fiscal policies affect only aggregate supply and monetary policies affect only aggregate demand.
b. Fiscal policies affect only aggregate demand and monetary policies affect only aggregate supply.
c. Fiscal policies are enacted by central banks and monetary policies are enacted by Congress or Parliament.
d. Fiscal policies are mainly concerned with changing government spending and taxation, and monetary policies are mainly concerned with changing the money supply.
.D
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The table above shows techniques that can be used to produce 100 shirts. The technique that is NOT technologically efficient is
A) W. B) X. C) Y. D) Z.
Assume that you own a lake house. Unfortunately your job will require that you spend the summer on the road and you won't be able to enjoy it. You decide that you will rent it out for the summer while you are working
The mortgage payment on the lake house is $1000 per month and the upkeep and maintenance if it is occupied is $200 month but zero if it is not rented. What is the minimum rent that you would be willing to receive and why? What information is irrelevant in your decision? Explain.
All but the most primitive societies use money as a medium of exchange, implying that
A) the use of money is economically efficient. B) barter exchange is economically efficient. C) barter exchange cannot work outside the family. D) inflation is not a concern.
Successful tacit collusion is most likely to arise among oligopolistic firms when they:
a. are all the same size. b. all have the same production costs. c. do not have a means of engaging in nonprice competition. d. each play the tit for tat strategy.