Fixed costs are the same in the short run as they are in the long run.
Answer the following statement true (T) or false (F)
False
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One problem with using monetary policy to address "bubbles" in asset markets is that:
A. monetary policy is well-suited for addressing the problem of inappropriately high asset prices. B. reducing the real interest rate to deal with the bubble could lead to inflation. C. the Federal Reserve is not interested in stabilizing output. D. doing so presupposes that the Federal Reserve is better than financial-market professionals at identifying bubbles.
If the deficit is 0.08 times GDP, the existing debt—GDP ratio is 0.8, and the growth rate of nominal GDP is 0.05, then the change in the debt—GDP ratio is
A) +0.08 B) +0.04. C) 0. D) -0.08.
Opportunity cost exists because of
A) poverty. B) scarcity. C) greed. D) self-interest.
Regulatory agencies engage in all of the following activities except _______
a. controlling entry into the regulated industries b. overseeing the quality of service provided by the firms c. setting federal and state income tax rates on regulated firms d. setting prices that consumers will pay e. none of the above