Based on new trade theory, as the size of markets increases, companies may be able to attain better ______.
Fill in the blank(s) with the appropriate word(s).
economies of scale
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Which of the following is in charge of the buying and selling of government securities by the Fed?
a. The president. b. The Federal Open Market Committee. c. The Congress. d. None of these.
The Consumer Price Index (CPI) is an index of the cost of a market basket of goods purchased by a typical household
a. True b. False
Because Congress decides on the federal government's budget during the year prior to when it will take effect, the tax laws and spending programs embodied in the budget ________ once they are in place. Because of this, the implementation lag for fiscal policy is ________.
A. are easy to change; often quite long B. are hard to change; often quite long C. are hard to change; usually very short D. are easy to change; usually very short
According to rational expectations theory, discretionary monetary and fiscal policy will be ineffective primarily because of the:
A. Successes of macroeconomic policy makers B. Inability of policy makers to time decisions properly C. Reaction of the public to the expected effects of policy changes D. Slow impact of policy to stimulate changes in real output and employment